IRS Spearheading Effort to Combat Crypto Tax Evasion, Laundering
The crackdown on cryptocurrency-related crimes continues, and tax evaders have been put on notice accordingly. The United States’ Internal Revenue Service (IRS) has launched a Joint Chiefs of Global Tax Enforcement, J5 for short, in an effort to combat both tax evasion and money laundering, and in part cryptocurrency’s use to effect these crimes, both in the United States and worldwide.
Money Crimes Come Under Scrutiny
The United States has teamed up with Australia, Canada, the Netherlands, and the United Kingdom in a mission to crackdown on a variety of financial crimes. The announcement comes two weeks after the U.S. Secret Service addressed Congress and emphasized the need for increased action against money laundering in general and the illicit use of cryptocurrencies.Read More >