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IRS Violated ‘Taxpayer Bill Of Rights’ With 2019 Crypto Letters: Watchdog
Summary: On July 26, 2019, the US Internal Revenue Service (IRS) demanded thousands of virtual currency-holding taxpayers fess up to unreported crypto trading gains.If these taxpayers did not refile their tax returns, address the apparent crypto discrepancies or, if they believed themselves already compliant, meticulously explain how and why in a sworn response, the letter warned ...
On July 26, 2019, the US Internal Revenue Service (IRS) demanded thousands of virtual currency-holding taxpayers fess up to unreported crypto trading gains.
If these taxpayers did not refile their tax returns, address the apparent crypto discrepancies or, if they believed themselves already compliant, meticulously explain how and why in a sworn response, the letter warned they could be referred for “an examination” – an audit.
The letters did not spell out to these taxpayers that they were not yet under IRS examination.
Nearly a year later, the agency’s own Taxpayer Advocate Service is alleging that letter violated the Taxpayer Bill of Rights, adopted by the IRS under pressure from Congress.
Tracy Chen
Tags: IRS
Link: IRS Violated ‘Taxpayer Bill Of Rights’ With 2019 Crypto Letters: Watchdog [Copy]
