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Wednesday, May 26, 2021 The Biden Administration and the Internal Revenue Service (IRS) continue to focus heavily on cryptocurrency tax enforcement issues. On May 20, 2021, the US Department of the Treasury (Treasury) released the American Families Plan Tax Compliance Agenda, a 22-page report detailing tax compliance measures that are to be included as part of US President Joe Biden’s American Families Plan. The report sets forth a number of initiatives designed to “close the tax gap,” identify the underreporting of tax liabilities and detect tax evasion. These measures, which are part of an $80 billion proposal for the IRS, would significantly enhance the agencies’ ability to address the challenges involved with finding taxes that result from virtual currency transactions.

United statesJohn doeRevenue serviceUs department of the treasuryForeign bank account reportBiden administrationInternal revenue serviceAmerican families plan tax compliance agendaJoe bidenAmerican familiesCurrency transactionஒன்றுபட்டது மாநிலங்களில்ஜான் டோவருவாய் சேவைஎங்களுக்கு துறை ஆஃப் தி கருவூலம்வெளிநாட்டு வங்கி எண்ணுதல் அறிக்கை