Crypto Traders

IRS Sends Emails Against Crypto Traders Despite Legal Questions

Tax US administration (IRS) is again sending out emails to cryptocurrency holders with reminders, but the legality of this action remains in question.

IRS Sends Emails Against Crypto Traders Despite Legal Questions

Letters about unpaid taxes and incorrectly filled reports were sent en masse to cryptocurrency holders on August 14, writes CoinDesk. Recipients are encouraged to verify that the information provided to the agency is correct before initiating a full-scale audit..

IRS Again Sends Emails to Cryptotraders Despite Legal Questions

“We have information that you have or have had one or more accounts containing virtual currency, but may not properly report your transactions,” the document says..

IN Last year The IRS has already sent such letters to cryptocurrency holders, however, the Taxpayer Support Service found out that these actions may go beyond the law. According to lawyers, one of the letters violates the rights of taxpayers, as it requires the provision of information that has expired.

In addition, some formulations in the text of the document caused criticism. Tax lawyer Erin Collins, in an appeal to Congress, said it was contrary to the laws governing the IRS and called on the agency to make changes, but they refused to do so. Crypto traders again receive an almost identical variation of this letter.

In total, three versions of such letters were found. Two of them are “educational in nature” and do not imply action on the part of the recipient if he believes that he did not commit violations in the process of filling out the tax return. The third letter requires an answer.

IRS Again Sends Emails to Cryptotraders Despite Legal Questions

Previously became known, that the issue of investing in cryptocurrencies was placed on the first page of the individual declaration of an American taxpayer.

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