IRS plans lower tax disclosure penalties, including for crypto: Forbes
The IRS plans to revise its voluntary disclosure program before December, aiming to resolve cases within 120 days after taxpayers submit required materials. IRS Criminal Investigation Chief Jarod Koopman said crypto tax violations would be handled under the same process as other tax cases, not through a separate digital-asset program. The agency is considering substantially lower penalties and payment options such as installment plans or offers in compromise, though no figures were provided. The current program addresses willful noncompliance that may lead to criminal prosecution and can take a year or more. Separately, a proposed bill would create a crypto disclosure process for taxpayers correcting past violations, including unintentional errors; it cleared the House Ways and Means Committee in September.
