by: xpoolPosted on:

White House Weighs Expansion of IRS Oversight for Foreign Cryptocurrency Accounts

The U.S. government is reviewing a proposal by the Treasury Department that would significantly boost the Internal Revenue Service’s (IRS) access to information on foreign cryptocurrency accounts held by U.S. taxpayers. This move marks a significant step towards aligning the country with global tax standards as it implements a new framework for crypto reporting.

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