The IRS Gets Real About Virtual Currencies

The IRS Gets Real About Virtual Currencies
29 Jul

Law360 (July 25, 2018, 4:36 PM EDT) — On July 2, 2018, the Internal Revenue Service announced five additional Large Business and International Division, or LB&I, compliance initiatives, known as campaigns.[1] These new campaigns bumped the total number of campaigns announced in the 2018 calendar year from 11 to 16.[2] Inclusion of virtual currencies or “cryptocurrencies” as one of those five new campaigns may seem surprising in light of the limited guidance from the IRS on the topic, even as the acceptance and volume of transactions involving these currencies has grown significantly in recent… Source:


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