STEVEN TOSCHER quoted in Tax Notes “A New Era for Crypto Enforcement” by Marie Sapirie
The IRS has spent over a decade using and refining a model for bringing into compliance those taxpayers who made mistakes in good faith or through non-willful ignorance, and for punishing bad actors. The renewed push to target
cryptocurrency builds on its predecessor, offshore bank accounts, but is distinguishable in important ways. The IRS appears sensitive to the differences, has more to learn, particularly about the types of taxpayers involved.
Steven Toscher of Hochman Salkin Toscher Perez PC said that while the IRS didn’t seem to recognize the different demographic groups involved at the start of the offshore compliance campaign and had trouble distinguishing between taxpayers who were willfully evading tax and those who were unaware of their tax obligations, it doesn’t seem to be making the same mistake with cryptocurrency.
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