The IRS might not be the best at keeping ahead of the crypto curve, but if you think you can hide your Bitcoin gains – think again.
For a long time, the IRS largely ignored the crypto market, leading many crypto investors to mistakenly believe they could underreport or outright avoid crypto taxes.
Some exchanges even ask for your social security number on top of this.
As well as this, many other crypto exchanges issue 1099 forms now in order to comply with IRS guidance.
As well as this, some wallets ask for data like your phone number or bank account.
Operation Hidden Treasure launched in March 2021.
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