In Mid-2019 The IRS Began Sending Letters To Crypto Traders Threatening Them With Fines And Incarceration
The IRS has sent threatening letters to more than 12,000 targeting crypto currency traders based on information provided to them by Coinbase. Most individuals are not prepared because they have not been filing taxes. The data included the customer’s name, taxpayer identification number, birth date and address, plus account statements and the names of counter-parties. The letter asks recipients to sign a statement declaring under penalty of perjury that they are in compliance with tax laws.