IRS to hold a summit soon to discuss tax-related issues surrounding crypto

• The agency has invited crypto firms and advocates to the summit, which is expected to take place on March 3.
• The summit will feature four 90-minute panels discussing technology updates, taxation issues faced by crypto exchanges, tax return preparations, and regulatory compliance. 

The Internal Revenue Services (IRS) is hosting a summit to discuss tax-related issues concerning cryptocurrencies. According to Bloomberg and CoinDesk reports, the agency has invited crypto firms and advocates to the summit, which is expected to take place on March 3 at the IRS’ Washington DC headquarters. An IRS representative has confirmed the event. 

The summit will feature four 90-minute panels discussing technology updates, taxation issues faced by crypto exchanges, tax return preparation and regulatory compliance. 

Bloomberg reported:

[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 has recently toughened its stance on crypto tax evasion. Last year, the agency had sent out thousands of letters to crypto holders who allegedly did not report their earnings.