US IRS requests $32 million to fight cryptocurrency tax evasion – Bits Media

Internal Revenue Service Criminal Investigations Division (IRS) wants additional $32 million to combat cryptocurrency tax evasion.

According to the budget justification report and the annual report and plan of the tax agency, IRS outlined a number of directions, by which $32.3 Milln additional financing will support the efforts of the tax collection agency from cryptocurrency operations.

These include the expansion of the use of specialized services from contractors, provided by a group of cryptocurrency experts, and the creation of an internal information panel for blockchain analytics. In case of approval, financing will also go to attract specialists from the private sector in the field of applied analytics, cyberproatia, support for investigations and related consulting services.

US President Joe Biden plans to invest $80 billion in IRS for the following 10 years old, To expand the state of the agency and provide it with new tools to combat tax evasion.

Recall, that recently the US presidential administration proposed
oblige cryptocurrency firms to notify the tax service on transactions with digital assets worth more than $10 000. Earlier, the deputy assistant to the chief legal adviser IRS reported, that the agency will confiscate digital assets for their owners for non -payment of taxes from cryptocurrency activities.