IRS Puts Cryptocurrency in the Crosshairs with Inflation Reduction Act
blog.silvermint.net
If the US government wanted to lab-engineer a strategy to hinder the adoption of cryptocurrency by ordinary people, one method they’d come up with is found in the Biden administration’s “Inflation Reduction Act.” It allocates $80 billion in new funding for the IRS to hire 87,000 new agents to go on an audit-spree of Americans at all income levels, coupled with changes on reporting cryptocurrency transactions that are designed to trip up taxpayers and trigger audits.
IRS Puts Cryptocurrency in the Crosshairs with Inflation Reduction Act
IRS Puts Cryptocurrency in the Crosshairs…
IRS Puts Cryptocurrency in the Crosshairs with Inflation Reduction Act
If the US government wanted to lab-engineer a strategy to hinder the adoption of cryptocurrency by ordinary people, one method they’d come up with is found in the Biden administration’s “Inflation Reduction Act.” It allocates $80 billion in new funding for the IRS to hire 87,000 new agents to go on an audit-spree of Americans at all income levels, coupled with changes on reporting cryptocurrency transactions that are designed to trip up taxpayers and trigger audits.