Gate News reports that on March 10th, the IRS introduced a new audit form for cryptocurrency tax audits, requiring taxpayers to disclose their complete transaction and wallet history. The form lists over 100 platforms, including major centralized exchanges (CEX) and self-custody wallets like MetaMask, Ledger, and Trezor.
Taxpayers receiving the form must mark “Yes” or “No” for each platform and sign the document, with signing penalties for perjury. The form aims to map taxpayers’ full crypto activity across multiple exchanges and wallets, potentially covering several years.
Tax professionals warn that omitting platforms may trigger further scrutiny, while excessive disclosure could open new investigation leads. It is advised to consult a crypto tax attorney before signing. The audit typically targets three groups: those who check “Yes” on the digital assets section of Form 1040 but report minimal activity; those with mismatched 1099-DA income and tax returns; and high-frequency traders during the 2017-2021 bull market.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
