The US Internal Revenue Service, known as the IRS, may now consider subpoenaing major tech companies in the likes of Apple, Google and Microsoft in search of taxpayers and their unreported crypto holdings. As the latest cryptocurrency news show, IRS confirms that it has trained staff to identify crypto wallets.
According to a slide deck presentation from an IRS cyber training session, the agency’s criminal investigators are now trained to find potential crypto tax cheats. The altcoin news feature this slide deck stating:
“Issuance of a Grand Jury Subpoena should be considered for Apple, Google, and Microsoft for the Subject’s complete application download history.”
Prepared by James Daniels who is the program manager for cyber crimes at the IRS criminal investigation unit, the deck proves that IRS confirms the claims. It also reads:
“Each application’s function should be explored to determine whether or not the application can transmit, or otherwise allow, transactions in bitcoin.”
If such is the case, it should be checked whether the app allows only peer-to-peer transactions or transactions with crypto related businesses. The deck also leaked on Twitter and showed that IRS confirms its trained staff for crypto wallets.
Justin Cole, who is the director of communication and education at IRS’ criminal investigation unit, said that the materials were presented to agency staff at an event at the World Bank in Washington, DC on June 5 to June 7.
“The training material has been used around the world to various law enforcement partner audiences and was again given at this forum in a room that included partners from dozens of countries around the world as well as various press members,” Cole wrote in an email featured on many best cryptocurrency news sites.
However, Cole did not say whether the IRS will definitely implement the suggested measures. “I can’t discuss specific investigative actions that the agency may or may not take in the future,” Cole said.
Meanwhile, the IRS is getting ready to issue new guidance on reporting crypto for tax purposes, the first coming out with an initial notice published in 2014. As it stands, IRS confirms that new developments are happening everywhere around the organization.
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