IRS urged by GAO to offer more cryptocurrency tax guidance

IRS urged by GAO to offer more cryptocurrency tax guidance

The Internal Revenue Service could be doing more to help taxpayers who own Bitcoin and other forms of cryptocurrency to comply with their tax obligations, according to a new report from the Government Accountability Office. The , issued Wednesday by the GAO, acknowledged that the IRS has provided some guidance in 2014 and 2019 on what it refers to as “virtual currency.”