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The tax office said it is focusing on clients who actively trade crypto assets but fail to declare the income on their tax returns.
For tax purposes, crypto assets, or cryptocurrencies, are considered a form of property.
“The income a person receives from selling, trading or exchanging crypto assets is taxable,” the tax office said today.
The company said it had written to a group of high-risk customers at the end of 2023 to give them the opportunity to address any non-compliance issues before being audited.
“The data we have helps us identify customers who are evading taxes,” said Trevor Jeffries, an IRS spokesman.
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