The United States’ Internal Revenue Service (IRS) last week told reporters that it has identified several cryptocurrency tax evaders following a meeting with top global tax authorities.
At a meeting with the Joint Chiefs of Global Tax Enforcement in Los Angeles, a group of officials from Australia, Canada, the Netherlands, the US, and the UK, shared information, tools and strategies to crack down on cryptocurrency tax evasion, reported Bloomberg.
“We have tools in place that we didn’t have six months or a year ago,” said Ryan Korner, a senior special agent in the IRS’s Criminal Investigations office in Los Angeles.
As part of a recent campaign to fix crypto-tax evasion, the IRS has sent over 10,000 letters to US citizens whom could be penalized for avoiding paying tax on crypto investments, and last month released new guidance on how to file tax returns for cryptocurrencies. The UK published new guidelines for cryptocurrency taxation last week.
At the meeting, Komer said that new strategies had also been shared to catch cyber criminals and money laundering.
“Tax fraud is not a new crime, but the sophistication with which criminals commit tax fraud has significantly increased through cyber-related activities in recent years,” the joint chiefs said in a statement.
“We’re looking to stay ahead of that curve and to let those actors know that we’re out there and we will find you,” said Chris Hueston, a criminal investigator for the IRS.