IRS: Crypto Tax Reporting Hits Just 32-56%
IRS eyes crypto tax compliance gaps as only 32% to 56% of U.S. holders report digital asset transactions, per March Review of Accounting Studies paper.
SourceAnalysis
IRS scrutiny on crypto tax compliance is tightening after a March paper in the Review of Accounting Studies showed just 32% to 56% of U.S. taxpayers with crypto holdings report their transactions, far below rates for stocks and bonds. Accountants note that digital asset taxation remains far more complex than traditional assets, leaving many investors exposed as the agency gains new data tools. IRS crypto reporting enforcement is expected to accelerate in the coming months.
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