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The IRS wants to fight even more against tax evasion from cryptocurrencies with the new budget of $ 32.3M

The Internal Revenue Service’s (IRS) wants to increase its activity in the fight against money laundering through cryptocurrencies, as evidenced by the annual report and the request for an increase in the budget.

Published 10 June 2021 1 min read

By Katie Müller

The IRS wants to fight even more against tax evasion from cryptocurrencies with the new budget of $ 32.3M

We learned about these steps from the official annual report and congressional budget, where the IRS describes how the new $ 32.3 million funding can improve and support the fight against money laundering and crypto tax evaders.

Congressional Budget Justification & Annual Performance Report and Plan

The funds are likely to be used to recruit additional experts in cybercrime, forensic accounting as well as cryptographic systems experts.

This demand comes at a time when US President Joe Biden is increasing his involvement in discussions about ransomware attacks. According to the latest information, Joe Biden plans to support the IRS with a financial injection of up to $ 80 billion over the next 10 years.