IRS plans lower tax disclosure penalties, including for crypto: Forbes
- —IRS is preparing a revamp of its voluntary tax disclosure program
- —Planned changes include lower penalties and faster resolutions
- —Taxpayers would get more flexible payment options
- —The overhaul would also cover crypto-related tax violations
Why it matters: Cheaper disclosure could push crypto holders to come clean on unpaid taxes and reduce enforcement risk.
Source: Cointelegraph