kaal:claim:2998033-017

Cryptocurrency gains are massively underreported to the IRS: despite Bitcoin rising from under twenty dollars in 2013 to over twelve hundred dollars in 2017, the IRS received only around 900 Form 8949 filings indicating crypto gain or loss over four years.

Source quote, verbatim

While the value of Bitcoin in 2013 under $20 and its value appreciated to over $1200 in 2017, in the past four years, the IRS has only received around 900 Form 8949 that would indicate some gain or loss from cryptocurrencies.

From

Wulf A. Kaal, Blockchain Innovation for Private Investment Funds (2017), II.5. Regulatory Implications, p. 18
https://ssrn.com/abstract=2998033 · source PDF

Cite as

Wulf A. Kaal, Blockchain Innovation for Private Investment Funds (2017). SSRN: https://ssrn.com/abstract=2998033

Classification

empiricalsupport: evidencedfailure: crypto-tax-underreportingfamily: enforcement-gapdisclosuretokenomicscompliance

Related claims

restated_by kaal:claim:3002908-014 Crypto gains are being massively underreported: despite Bitcoin rising from under twenty dollars in 2013 to ov...

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