The IRS is coming for bitcoin investors who are not paying their fair share on their gains.
The IRS believes the time has come to prosecute bitcoin tax evasion and they say that they are ready to go to a jury and get convictions.
Tax practitioners are asking the IRS for more guidance on the existing regulations. New direction expected in June is expected to resolve any uncertainty on how to deal with the cost basis when a fork occurs.
Practitioners must ask their clients about crypto gains. Gains can be taxed like gains on stock investments.
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