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Can You Go to Jail for Not Reporting Crypto Transactions? IRS Agent States IRS Ready to Start Criminally Prosecuting Cryptocurrency Tax Evaders

An article this summer in Tax Notes Today examined the United States government’s ability to tax cryptocurrencies. The article came days before cryptocurrencies saw another bullish run in which the value of a single unit of bitcoin once again passed $10,000. Additionally, the article references the comments of IRS special…

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Sisyphus and the Tax Collector

In Greek mythology, King Sisyphus is punished by the gods and forced to roll a huge boulder up a hill only for it to roll down as it nears the top. No matter how much effort Sisyphus puts into attempting to push the boulder over the crest of the hill,…

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Don’t Always Believe What the IRS Tells You About Your Trust Fund Taxes (or Anything Else)

A 2017 case is a stark $300,000 reminder that the IRS is not bound by statements made by its employees, such as Revenue Officers. Tommy Weder was a responsible officer of a corporation which failed to pay its payroll taxes, and as a result, he was assessed a trust fund…

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