IRS 2019 Report Cites Crypto As Being Used By Criminals To Avoid Tax

The Internal Revenue Services have just recently released a criminal investigation report for 2019, celebrating its century work of law enforcement. 

The report goes into detail on the fight against criminals across the United States that evade tax thanks to advanced technologies that help them avoid paying their due and their ability to commit other crimes. 

The report specifically goes into note the success it has had over the 12 months in being able to put criminals behind bars but it also highlights criminals who were able to do what they did through the use of cryptocurrencies...

Crypto crimes

Jim Lee, the Deputy Chief of the Revenue Service, noted the Global Tax Enforcement, which was created in June of last year. Otherwise known as J5, it follows a call to action from the Organisation for Economic Cooperation and Development and it fights the war against tax evasion on a global level. Furthermore, J5 also looks into enablers of international tax evasion as well as the use of cryptocurrency to avoid the obligation of worldwide tax.

In the report, Lee said:

“Today’s cyber criminals think we cannot catch them, but as evidenced by some of the great casework in this report, I would say they are wrong. They now deal in crypto-currency, again thinking this will make them anonymous, but our agents have once again proved that there is nowhere to hide. We will not stop in our pursuit.”

It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!