Biden Administration Proposals Will Greatly Enhance IRS’ Ability to Identify Cryptocurrency Transactions
By EsqSocial Corporation 27/05/21
The Biden Administration and the Internal Revenue Service (IRS) continue to focus heavily on cryptocurrency tax enforcement issues. On May 20, 2021, the US Department of the Treasury (Treasury) released the American Families Plan Tax Compliance Agenda, a 22-page report detailing tax compliance measures that are to be included as part of US President Joe Biden’s American Families Plan. The report sets forth a number of initiatives designed to “close the tax gap,” identify the underreporting of...
By: McDermott Will & Emery