On Friday the IRS announced the start of sending letters to the owners of the cryptocurrency. The staff strongly recommended to pay any taxes that are payable and to file an amended tax return on assets. One of the users Reddit the attorney Tyson Cross told Forbes that several of his clients have received similar letters. It is worth noting, talking about the fines and confiscations is not yet underway, and the letters are “educational” in nature.
Before the end of this month, the service plans to send more than 10 thousand letters. However, as noted by the tax authorities, the names of the holders of the cryptocurrency received various legal methods, that is, within the law. The statement said on behalf of the IRS Commissioner Chuck Rettig notes the following.
Taxpayers should treat these letters seriously. It is necessary to check tax returns and, if necessary, make changes and pay unreported taxes.
Apparently, the tax decided to take cover of cryptomonadales and while ambiguously hinting that sooner or later will have to pay.
After officials began to consider cryptocurrencies as a form of intangible property, a number of organizations and representatives of Cryptoprotected urged the IRS to work out a new normative legal acts. It is first necessary to create transparent and clear system of taxation in cryptocotyle. In may, there have already been reports that the IRS began work on a new statement in relation to cryptocurrencies. It should be noted, this is the first serious progress in this issue in 2014.
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