IRS warns that hundreds of crypto-related tax prosecutions are pending (USA)

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The US Internal Revenue Service's (IRS’) Criminal Investigation Chief has revealed that the agency has hundreds of crypto-related tax cases ready to be publicly charged. Prosecutions have been bolstered by the prominent placement of a digital assets warning on the front of the Form 1040 income tax return and the IRS is hiring 500 new employees to continue to pursue cases, many of them criminal prosecutions of 'off-ramping', in which digital assets are converted into fiat currency.

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