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IRS Expands Crypto Tax Enforcement Budget And Will Hire External Experts To Provide Support
Summary: The Internal Revenue Service (IRS) fiscal year 2022 budget requirement is $13.2 billion, which is $1.2 billion (10.4%) higher than the level of last year, according to the IRS' new budget report. In terms of law enforcement budgets, IRS requested $5.46 billion, a year-on-year increase of $458 million. Among them, IRS stated that it needs ...
The Internal Revenue Service (IRS) fiscal year 2022 budget requirement is $13.2 billion, which is $1.2 billion (10.4%) higher than the level of last year, according to the IRS' new budget report.
In terms of law enforcement budgets, IRS requested $5.46 billion, a year-on-year increase of $458 million. Among them, IRS stated that it needs an additional $32 million to promote its crypto and network business, including for hiring personnel and establishing a complete internal dashboard for cryptocurrency and blockchain analysis, and $23 million will be used for "contractor services".
The report stated: "In IRS-CI’s Western CCU, a specialized contractor assists in the development efforts to build an internal, CI-owned dashboard, called STRIKES, for cryptocurrency/blockchain analytics.”
By Mary Liu
Tags: Blockchain,Cryptocurrency,IRS
Link: IRS Expands Crypto Tax Enforcement Budget And Will Hire External Experts To Provide Support [Copy]
