Legal battles over the tax treatment and reporting burdens for cryptocurrency could be on the rise as the IRS and Treasury try to stop evasion and money-laundering in the industry.
In recent years, the IRS has repeatedly signaled that tax compliance for cryptocurrency users is a high and growing priority. Commissioner Charles Rettig told lawmakers in April that cryptocurrency tax underpayment is a key contributor to the gap between what the federal government is owed and what it collects, an amount he said could total more than $1 trillion annually.
Neither the IRS nor the Financial Crimes Enforcement ...