US Treasury seeks reporting of cryptocurrency transfers, doubling of IRS workforce By Reuters – Investing.com
- Date: 21-May-2021
- Source: Investing.com
- Sector:Financial Markets
- Country:Middle East
US Treasury seeks reporting of cryptocurrency transfers, doubling of IRS workforce By Reuters – Investing.com
By David Lawder
WASHINGTON (Reuters) -The Biden administration's tax enforcement proposal would require that cryptocurrency transfers over $10,000 be reported to the Internal Revenue Service and would more than double the IRS workforce over a decade, the U.S. Treasury said on Thursday.
The plans were part of a Treasury report detailing the Biden Administration's proposal to invest some $80 billion into the U.S. tax agency through 2031 to improve compliance an revenue collections.
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