Cryptocurrency investors in the United States are receiving letters from the Internal Revenue Service (IRS) which are proposing backdated tax payments relating to the trade of virtual assets.
As reported by Bloomberg, some traders are receiving notices asking for input on revised tax returns, based on estimates of profit generated by cryptocurrency-related activities.
The CP2000 notices have been sent in recent weeks and while they do acknowledge mistakes in past tax returns might be due to cryptocurrency platforms and exchanges rather than individuals, they do signal a clampdown by the IRS on the burgeoning industry.
