US Virtual Currency Owners Suspected of Non-Payment of Taxes Contacted by the IRS

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More news in the virtual currency world as the IRS in the US has sent a circular to 10,000 virtual currency owners suspected of tax evasion, reminding them of their requirement to repay taxes, as well as to file amended returns for previously undisclosed digital transactions.

In a letter signed by Internal Revenue Service Commissioner, it advised US taxpayers to “take the warnings very seriously”, and stated that virtual currencies are classed as property irrefutably for federal taxation purposes.