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During Coronavirus Pandemic, IRS Cuts Taxpayers Some Much Needed Slack

CryptocurrencyMar 31, 2020 11:20AM ET
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During Coronavirus Pandemic, IRS Cuts Taxpayers Some Much Needed Slack

Crypto communities and the United States Internal Revenue Service haven’t exactly had a love fest over the last five years. It started in 2014, when the IRS said crypto was property, and it hasn’t got much better since. In addition to sending those 10,000 “beware” letters and trying to get crypto exchanges to turn over customer lists, the IRS has even gone so far as to alter the most hallowed tax form, Form 1040, to ask a crypto-specific question.

However, the IRS is actually making a big effort to cut all taxpayers — and that includes the crypto community too — some much needed slack during this unprecedented time. It started when the head of the IRS, Commissioner Chuck Rettig, announced the “People First Initiative.” Need to pay your taxes in installments? The IRS will help and has a well-worn process for working out installment payments.

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During Coronavirus Pandemic, IRS Cuts Taxpayers Some Much Needed Slack
 

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