US Internal Revenue Service Seeks Contractors to Calculate Crypto Taxes
Main page News, US, Cryptocurrency
Hot topic
13 May
209 209

The IRS, the US Internal Revenue Service, has asked for the help of contractors to calculate the taxes crypto users must pay.

According to an e-mail sent by the IRS and published by Cryptotrader.tax, the agency is seeking external contractors that can provide assistance in calculating the taxpayers' profits or losses related to their transactions.

The IRS is looking for the services of a third party to help it determine the taxpayers' profits or losses after analyzing on-chain, off-chain, APIs and tax submission data.

The IRS's decision to ask for help in order to calculate crypto-related taxes comes shortly after the IRS tightened its attitude toward tax evasion. Thus, last year it was known the IRS had sent thousands of letters to US taxpayers reminding them of their tax obligations.

This year, the 1040 form includes for the very first time a question about taxpayers's crypto activities.

Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.

Read also:
Please describe the error
Close