Overview
CoinDesk quoted Lisa Zarlenga in an August 12 article titled "IRS Warnings to Bitcoin Traders Offer Clues to Coming Tax Guidance." The article discusses how the Internal Revenue Service's (IRS) warning letters to bitcoin traders offer hints at what its imminent guidance on crypto taxes might say.
Zarlenga says the letters may not be inconsistent with past guidance. In her view, the IRS is most likely just looking for individuals who did not report any gains or losses from crypto transactions, despite having conducted them. "I don't think this indicates a change in their position at all. I think these letters are getting at basic reporting on gains and losses in the use of cryptocurrency," she says.
The full article can be read at CoinDesk.
