IRS Scouting for Contractors to Review Crypto Trader’s Tax Returns

e_abrams

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The IRS is looking for contractors who will facilitate the taxing of cryptocurrency profits in the United States of America.

The agency is looking for such outside services so that they will calculate people’s profits and losses from digital currency exchange activity.

The contractors have not been chosen yet, but they will take responsibility for processing cryptocurrency transaction data derived from on-chain and of-chain sources, tax submissions, APIs, and a range of other sources in order to calculate how much people have gained and lost in the process of said actitivy.

The IRS so far has contacted two companies – one is yet unnamed, the other is called CryptoTrader.Tax, the latter of which has rejected the proposition.
Source

If there is profit to be made from something the IRS will want to tax it, no exceptions. :D