The IRS can assess back taxes, interest, and penalties for the failure to report Bitcoin Income. The IRS has made Bitcoin tax compliance a priority as part of its Virtual Currency Compliance campaign.
If you’re having tax problems
Tag: unreported bitcoin income
You may need to amend your tax returns and pay additional taxes, penalties, and interest if you have previously unreported Bitcoin income. If you fail to take action, the IRS may audit your returns as part of its Virtual Currency Compliance campaign.