The Internal Revenue Service is sending letters to 10,000 digital currency holders who potentially failed to pay taxes or importantly reported taxes on their assets last year.
In some cases, the IRS says taxpayers could be subject to criminal prosecution.
These letters and what they imply should be taken very serious according to both IRS Commissioner Chruck Rettig and Criminal Investigators (CI) of the IRS. "When and where appropriate, amend the past returns and pay the back taxes, interest and penalties" says Commission Rettig.
The IRS does not indicate where and how they obtained the list of 10,000 but they do have an agreement with Coinbase via a court order for accounts worth at least $20,000.
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