IRS Launches an International Fight to Achieve Cryptocurrency Tax Compliance

[Goodcat49]

The United States Internal Revenue Service (IRS) is taking crypto tax compliance to the international stage, joining other major tax authorities from four nations to create a strong coalition tasked with fighting crypto-related tax crimes.

Today, crypto trading has reached vanguard levels and can't be waved away as a flop. Many nations are starting to see the fruits of the significant trading volume in the crypto market. This has made the crypto taxes to turn into a big discussion topic across the globe.

The IRS has been at the center of cryptocurrency tax compliance, though it currently looks like the Agency desires to take the struggle to the international stage. The tax payments bring a dire need for full monitoring, enforcement and regulation to guarantee compliance.

Future Achievement Of The Coalition
 
The IRS is on the battlefield with other tax authorities from the Australia, UK, Netherlands and Canada and they have already created the Joint Chiefs of Global Tax Enforcement (J5).

The major role of the J5 is to fully contend and tackle transnational tax crimes. The coalition was primarily created in reacting to the call official call from the Organisation for Economic Cooperation and Development (OECD) to decrease tax crimes.

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/irs-launches-international-fight-to-achieve-cryptocurrency-tax-compliance/