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IRS improves detection of crypto tax mistakes for bitcoin and ether holders

The IRS focus reflects how hard it can be for many investors to calculate taxes owed on crypto transactions.

Reported · Written up by our desk · ETFs

CNBC Markets reports that the IRS is getting better at identifying crypto tax mistakes, particularly for investors who trade or hold cryptocurrencies such as bitcoin and ether.

The outlet notes that many investors struggle to figure out how much tax they owe after crypto transactions.

As a result, the IRSs increased enforcement capacity could raise the stakes for taxpayers who have difficulty tracking transaction-level tax obligations.

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Sources

CNBC MarketsThe IRS is getting better at spotting crypto tax mistakes. Here's what it means for investors

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