An Internal Revenue Service official said Wednesday to"expect more" in the way of broad information requests to crypto exchanges, similar to past efforts involving Coinbase, Kraken and Circle.
During her initial remarks, Schenk offered a broad overview of the IRS landscape as it relates to cryptocurrency, noting that" Schenck touched on a few publicly known areas of IRS action, including the issuance of letters to taxpayers suspected of not correctly reporting their crypto-related tax obligations. Such letters were issued in 2019 and 2020, respectively, and Schenck noted that the IRS"Perhaps most notably, Schenck remarked that the IRS may utilize so-called John Doe letters in order to seek information from crypto exchanges.
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