IRS Contacting Bitcoin Holders

Financial advisors may want to nudge clients who have bought and sold cryptocurrencies like Bitcoin to make sure they have accurately reported their capital gains to Uncle Sam.

That’s because the IRS is making it clear it will keep a closer eye on taxpayers’ crypto gains, my Barron’s colleague Avi Salzman reports.

The IRS says it started sending letters to more than 10,000 taxpayers who own virtual currencies instructing them to review their returns and amend them when necessary.

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