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CoinLedger: Number of US Users Receiving Cryptocurrency Tax Letters Surges, Signaling Potential Increase in Enforcement
Summary: According to The Block, CoinLedger CEO David Kemmerer revealed that in the past 60 days, the number of US users of the cryptocurrency tax software platform CoinLedger who have received letters from the Internal Revenue Service (IRS) has surged by 758%, with accounting firms like Taxing Cryptocurrency confirming this trend. Kemmerer stated in an email ...
According to The Block, CoinLedger CEO David Kemmerer revealed that in the past 60 days, the number of US users of the cryptocurrency tax software platform CoinLedger who have received letters from the Internal Revenue Service (IRS) has surged by 758%, with accounting firms like Taxing Cryptocurrency confirming this trend. Kemmerer stated in an email that despite Trump expressing a desire to eliminate cryptocurrency taxes in the US, Congress has not yet proposed any related legislation. Meanwhile, many investors still mistakenly believe they do not need to report cryptocurrency assets on their taxes. He added that this could be the beginning of a larger wave of enforcement, especially with the new 1099-DA tax reporting requirements set to take effect next year.
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Link: CoinLedger: Number of US Users Receiving Cryptocurrency Tax Letters Surges, Signaling Potential Increase in Enforcement [Copy]
