The IRS has indicated that catching crypto cheats is a very high priority. They continue pursuing actions to find taxpayers who have not paid tax on their crypto gains.

In 2021, Congress passed the $1.2 trillion bipartisan infrastructure law, requiring an annual tax reporting provision for digital currency brokers starting in 2023.

David Zubler is a tax accountant and Enrolled Agent in East Tennessee, providing tax strategies and representing clients before the IRS and has over 25 years of tax experience. He is the author of six tax books and has shared tax advice on national TV. He is the founder and president of Your Tax Care. The company provides business and tax education, including David’s one-minute tax tip radio recordings at YourTaxCare.com. David can be reached at 865-363-3019 or contacted by email at david@yourtaxcare.com.