The Internal Revenue Service (IRS) is the United States federal government agency that collects income tax and various labor, corporation, and property taxes, among others. It is responsible for enforcing the tax laws relating to the United States federal budget. Faced with the wave of violations of tax standards, through cryptocurrencies, it created, in 2021, an Office to centralize its efforts in investigating digital assets. The prerogatives of the Office are extended to cybercrime, digital forensics and support for forensic physics. The Bureau is currently working on hundreds of tax fraud cases, carried out via cryptocurrencies.
Americans are increasingly circumventing the tax system with cryptocurrencies
On Thursday, the IRS Criminal Investigation Division announced it is building hundreds of cryptographic files. These files, which aim to indict tax evasion perpetrators via digital assets, will soon be made public. Division head Jim Lee said this as part of the publication of his annual report.
Explain that these cases include crimes where cryptocurrencies are exchanged for fiat currency. This, without there having been any declarations to the tax authorities. The manager explains it competent services have seen many changes in tax evasion in recent years.
“Over the past three years, I’ve seen a big shift in digital asset investigations. Previously, most of them were related to money laundering. But tax cases now make up about half of these investigations ”.Jim Lee regretted. The IRS official announced that his services will make greater efforts to combat the phenomenon, via cryptocurrencies.
87,000 people to better fight fraud?
Last March, The block report the words of an official of the agency, who announced that more and more requests for information will be sent to exchanges, in order to list cases of tax evasion, via crypto. The authorities are also considering an increase in the number of tax offenses. For this, they plan to recruit new IRS agents. A policy that many criticize on social media. The figure of 87,000 new was mentioned.
The protesters in particular received the support by Tiffany Smiley, Republican candidate in the Washington senatorial elections.
“I will definitely make sure that the 87,000 IRS agents don’t come looking for our small businesses and hardworking families in Washington. Those who earn $ 25,000 a year are five times more likely to be vetted by the IRS. “she said.
One of the most recurrent criticisms of the IRS is that it only attacks people with modest incomes. At the same time, the richest in the United States are those who pay the least taxes. Separately, Lee said the investigation seized about $ 7 billion in cryptocurrencies this year. This is double the previous year’s total.
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Far from dulling my enthusiasm, a fruitless investment in a cryptocurrency in 2017 only increased my enthusiasm. I therefore decided to study and understand the blockchain and its multiple uses and to transmit information relating to this ecosystem with my pen.