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BullNBear52

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BullNBear52

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Wednesday, 04/14/2021 10:53:14 AM

Wednesday, April 14, 2021 10:53:14 AM

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IRS is probing the dark web to look for cryptocurrency, NFT tax evasion, says IRS commissioner
PUBLISHED WED, APR 14 202110:41 AM EDT
Robert Frank

KEY POINTS
IRS Commissioner Charles Rettig said the U.S. fails to collect as much as $1 trillion in taxes owed each year, partially due to the explosion of cryptocurrencies.

The crypto world “is replicating itself constantly,” said Rettig, who cited NFTs as an example.

Many NFT buyers are not aware that they have to pay a capital gains tax when they use appreciated crypto to make a purchase.

https://www.cnbc.com/2021/04/14/irs-is-probing-the-dark-web-to-look-for-cryptocurrency-nft-tax-evasion.html

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