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Local

IRS Has Begun Sending Letters to Virtual Currency Owners Advising Them to Pay Back Taxes, File Amended Returns

by eNews Park Forest on July 26, 2019

eNews Park Forest Author

IRS says this is part of the agency’s larger efforts

Washington, D.C.-(ENEWSPF)- If you own virtual currency you likely owe taxes on that currency. The Internal Revenue Service has begun sending letters to taxpayers with virtual currency transactions that potentially failed to report income and pay the resulting tax from virtual currency transactions or did not report their transactions properly.