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Operation Hidden Treasure Is Here. If You Have Unreported Crypto, Get Legal Advice

[https://www.forbes.com/sites/irswatch/2021/03/06/operation-hidden-treasure-is-here-if-you-have-unreported-crypto-its-time-to-get-legal-advice/?sh=393336a739c9](https://www.forbes.com/sites/irswatch/2021/03/06/operation-hidden-treasure-is-here-if-you-have-unreported-crypto-its-time-to-get-legal-advice/?sh=393336a739c9)



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3 Comments

  1. IRS already said that you don’t have to report owning.

    You have to report sales/gains.

    If you HODL you don’t report shit.

    Don’t pay for a lawyer and spend uselessly. Unless you’ve sold then you’re not smart anyway

  2. “Operation Hidden Treasure is comprised of agents who are trained in cryptocurrency and virtual currency tracking, and who are focused on taxpayers who *omit cryptocurrency income* from their tax returns.”

    This is standard IRS hustle, go after unreported income.

    I would be most interested in seeing the mechanics of connecting wallets to taxpayers. Likely easier on centralized exchanges, so I suspect they go after that low hanging fruit.

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