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IRS Warning: The Taxman Cometh – For 'Billions of Dollars' Worth of Crypto
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America’s central tax body, the Internal Revenue Service (IRS) has stated that it expects crypto worth billions of dollars could be seized again next year.
Bloomberg quoted the IRS Criminal Investigation Chief Jim Lee as stating:
“I expect a trend of crypto seizures to continue as we move forward into the fiscal year [FY] 2022. We’re seeing crypto involved in a number of our crimes as we move forward.”
Lee was speaking after an IRS annual report revealed that the IRS had seized a cool USD 3.5bn worth of tokens FY2021, accounting for a whopping 93% of all the assets recovered by the agency in the year.
And the IRS has been honing its abilities, claiming that it has started training tax officials with various blockchain and crypto-related
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