International Tax Authorities Form Coalition to Fight Cryptocurrency Tax Crimes

In a press release published on the IRS website this week, it was revealed that the US tax agency had joined a coalition with its counterparts in from Australia, Canada, the Netherlands and the United Kingdom to form the Joint Chiefs of Global Tax Enforcement (J5).

The coalition will be working with the OECD to tackle crimes involving offshore structures and financial instruments used to launder money and commit tax crimes, which will include the growing threat posed by cryptocurrencies and cybercrime to tax administrations.

IRS Chief of Criminal Investigation Don Fort said that they decided to take an international approach since they were unsuccessful with their one-man efforts in the past.   

Source: Bitcoin Magazine