A CASE FOR CRYPTO TAX AMNESTY

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A CASE FOR CRYPTO TAX AMNESTY

The Internal Revenue Service (IRS) is blinded by its desire to defeat cryptocurrency. It rushes to enforcement without first thinking how best to get there. It has spent millions of taxpayer dollars training its personnel and procuring private contractors to uncover non-compliance (tax) by crypto users. It is arming its people to aggressively enforce the tax laws applicable to cryptocurrency. All the while, it ignores “established” frameworks to help achieve tax compliance and collection on crypto transactions. Crypto tax amnesty is the easiest and fairest way to get from point A to point B; yet the IRS prefers unfair and…