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weeks or even a year. Under those circumstances, taxpayers would wait to recognize income at the point that they can access, sell, transfer or exchange the new currency. Consequently, if the value
amend past returns and pay back taxes, interest and penalties,” IRS Commissioner Chuck Rettig said in a statement. “The IRS is expanding our efforts involving virtual currency, including increased use of data analytics. We are focused on enforcing the law and helping taxpayers ...