IRS Says It Would Seize Bitcoin To Settle Unpaid Taxes

According to comments made at a virtual conference this week by U.S. Internal Revenue Service (IRS) deputy associate chief counsel Robert Wearing, the agency would seize cryptocurrency assets like bitcoin from individuals it deems to be in violation of tax requirements.

“Bottom line: The IRS will seize that property and will attempt to follow its usual procedures to sell it and use it to satisfy collection,” Wearing told attendees of an American Bar Association conference, according to Bloomberg Law.



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