IRS Sends 10K Crypto Audit Letters Monthly; Trump Allegedly Exempt

The US Internal Revenue Service (IRS) is sending out approximately 10,000 letters per month to cryptocurrency holders for audit purposes. The letters are part of a broader effort by the IRS to crack down on tax evasion and non-compliance in the crypto space.

A report by BitRss claims that Donald Trump, the former President of the United States, has allegedly been exempt from these audits. However, it is unclear what specific measures were taken to grant him this exemption or whether it was a one-time exception.

The IRS's efforts to monitor cryptocurrency transactions have been ongoing since 2015, when they began requiring taxpayers to report their crypto holdings on tax returns. The agency has also been working to improve its ability to track and audit cryptocurrency transactions.