Internal Revenue Service Invites Crypto Firms To A Digital Asset Tax Summit In March

The Internal Revenue Service (IRS) sent out invites to an undisclosed number of cryptocurrency startups and firms in a bid to discuss digital asset tax-related issues in the field on March 3. The reports from Bloomberg Tax and Coindesk state the Washington based conference will have four-90 minute panel sessions to discuss taxes, tech, and regulation.

As the 2019 tax season dawns in the U.S, the IRS, official revenue collector, has sent out invites to cryptocurrency firms and startups in the next two weeks. The reports from Bloomberg Tax confirms the agency is wanting to crack down on tax evasion in the country and the conference will help them “balance taxpayer service with regulatory enforcement” in the digital asset industry.

The invitation is focusing on challenging tax evasion with a special guidance proposal in place for companies dealing with cryptocurrencies. Notwithstanding, the conference invites both the private sector and government officials to share and engage their views on taxation in the field. The invitation says the panelists,

“will share their views and engage with the audience, which will include IRS personnel from across the spectrum of tax administration, and individuals from other bureaus or offices within the Department of Treasury.”

The IRS recently redefined virtual currencies in its books keeping cryptocurrencies under the definition excluding in-game currencies such as V-bucks.

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide