/Internal Revenue Service (IRS) Asked to Provide a Clearer Cryptocurrency Tax Framework

Internal Revenue Service (IRS) Asked to Provide a Clearer Cryptocurrency Tax Framework



We have no answers from the IRS on the finer details. People go to prison for not reporting their foreign bank accounts. We don’t know if a cryptocurrency exchange is a foreign financial institution. The fact that the IRS hasn’t said if people should be reporting these accounts is unfortunate, to say the least.

Source: Internal Revenue Service (IRS) Asked to Provide a Clearer Cryptocurrency Tax Framework