Boosting IRS tech and implementation
Virtual monetary standards "have developed to $2 trillion in market capitalization," and the danger of criminal behavior including tax avoidance "is the reason the President's proposition incorporates extra assets for the IRS to address the development of cryptoassets," the Treasury Department said. In a reference, the Treasury Department refered to a 2013 Michigan Law Review report that said, "To the degree that cryptographic forms of money keep on acquiring energy, we could sensibly expect charge dodgers—who customarily executed their tax-avoidance methods using seaward ledgers in assessment safe house purviews—to quit conventional expense asylums for digital currencies."
The Treasury Department said its expense requirement plan "would dramatically increase the IRS labor force longer than 10 years,"