{"id":12568,"date":"2024-04-15T14:30:07","date_gmt":"2024-04-15T11:30:07","guid":{"rendered":"https:\/\/forklog.com\/en\/irs-anticipates-surge-in-crypto-related-crimes\/"},"modified":"2024-04-15T14:30:07","modified_gmt":"2024-04-15T11:30:07","slug":"irs-anticipates-surge-in-crypto-related-crimes","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/irs-anticipates-surge-in-crypto-related-crimes\/","title":{"rendered":"IRS Anticipates Surge in Crypto-Related Crimes"},"content":{"rendered":"<p>The United States Internal Revenue Service (IRS) is bracing for a significant increase in cryptocurrency tax crimes. This was stated by the head of the agency&#8217;s criminal investigation department, Guy Ficco, in an interview with <a href=\"https:\/\/www.cnbc.com\/video\/2024\/04\/12\/irs-criminal-investigation-chief-agency-prepared-crypto-tax-crimes-cnbc-crypto-world.html\">CNBC<\/a>.<\/p>\n<p>The statements were made ahead of the April 15 deadline for U.S. citizens to file their tax returns.<\/p>\n<p>According to the official, the IRS has enhanced its capabilities to combat tax fraud and evasion involving digital assets. Ficco highlighted collaboration with Chainalysis and several other similar organizations.<\/p>\n<p>The department head noted that digital assets were previously used mainly as tools for financial offenses such as fraud, scams, and money laundering. Recently, the agency has observed a sharp rise in &#8220;pure crypto tax crimes.&#8221; The official expects this trend to continue in the near future.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;This could simply be the failure to declare income from the sale of digital assets. It could be concealing the true basis of cryptocurrencies. In this latter area, I expect an increase [in cases],&#8221;<\/em> he said.<\/p>\n<\/blockquote>\n<p>Ficco mentioned the IRS&#8217;s collaboration with Chainalysis and several other similar organizations.<\/p>\n<p>Back in December 2023, ForkLog reported that about half of the agency&#8217;s cryptocurrency investigations involved tax evasion cases, whereas three years ago, over 90% were related to money laundering.<\/p>\n<p>In the same month, the Service named the largest cases of 2023 involving digital assets.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The United States Internal Revenue Service (IRS) is bracing for a significant increase in cryptocurrency tax crimes. This was stated by the head of the agency&#8217;s criminal investigation department, Guy Ficco, in an interview with CNBC. The statements were made ahead of the April 15 deadline for U.S. citizens to file their tax returns. According [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":12567,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1269,36,558,26],"class_list":["post-12568","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrencies","tag-regulation","tag-taxes","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"22","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/12568","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=12568"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/12568\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/12567"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=12568"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=12568"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=12568"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}