IRS Audits Targeting Cryptocurrency and NFTs: What Taxpayers Need to Know in 2023
Posted in News, Offshore Account Update on March 31, 2022
Cryptocurrency investing and non-fungible tokens (NFTs) hit the mainstream during the COVID-19 pandemic. But, even before the recent boom, digital assets were already on the Internal Revenue Service’s (IRS) radar. The IRS has been prioritizing enforcement related to Bitcoin and other digital assets for years; and, as the popularity of digital assets has grown, the IRS’s interest in these assets has grown as well. In this article, Maryland tax lawyer Kevin E. Thorn, Managing Partner of Thorn Law Group, explains what cryptocurrency and NFT investors need to know in 2023:
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