The Internal Revenue Service (IRS) in the United States is strengthening its crackdown on crypto tax evasion through its Criminal Investigation Division ahead of the April 15 tax filing deadline.

The key change in this year's tax reporting is the implementation of Form 1099-DA, which requires brokers to report users' total digital asset transaction amounts, but currently does not mandate reporting the cost basis, so investors must calculate costs themselves to avoid overpaying taxes.
Data shows that 61% of American crypto investors are still unfamiliar with the new regulations.
Official warnings state that voluntarily reporting is far less severe than being caught, and serious tax fraud can lead to hefty fines and imprisonment.
(DL News)