IRS needs to keep closer eye on bitcoin: watchdog

The IRS isn’t doing enough to monitor the use of virtual currency, the agency’s inspector general said in a report Tuesday. There is “little evidence of coordination” between different parts of the Internal Revenue Service on policing virtual currencies such as bitcoin, according to the Treasury inspector general for tax administration. As with cash, the…

IRS, Security Summit Partners Expand Identity Theft Safeguards for 2017 Filing Season, Build on 2016 Successes

WASHINGTON – The Internal Revenue Service, state tax agencies and industry partners today finalized plans for 2017 to improve identity theft protections for individual and business taxpayers after making significant inroads this year against fraudulent returns. Public and private sector leaders announced today that their collective efforts through the Security Summit initiative have led to…