IRS Sending Warning Letters to More Than 10,000 Cryptocurrency Holders: ‘Taxpayers should take these letters very seriously,’ IRS Commissioner Chuck Rettig said

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IRS Sending Warning Letters to More Than 10,000 Cryptocurrency Holders

An IRS spokesman declined to say whether the letters stem from information turned over by digital-currency platform Coinbase. In mid-March of 2018, Coinbase provided data—under a federal court order—on about 13,000 accounts requested by the IRS.

One version of the letter recently uploaded to the IRS website asks recipients who believe they have followed the law to sign a statement declaring, under the penalty of perjury, that they are in compliance with tax rules. It also notes says that the recipient should understand the IRS may be in touch with them.

In recent weeks, IRS criminal investigations chief Don Fort has announced that the agency is also building criminal tax-evasion cases involving cryptocurrency that are expected to be made public soon.

The Coinbase customers whose information was turned over bought, sold, sent or received digital currency worth $20,000 or more between 2013 and 2015.


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