The US Internal Revenue Service plans to introduce a reformed voluntary tax disclosure system
2026-10-24 08:14:29
According to CoinMeta, as reported by Forbes, Jarod Koopman, the head of the criminal investigation department of the U.S. Internal Revenue Service (IRS), stated that the IRS plans to launch a reformed voluntary disclosure program by the end of November. The goal is to reduce the processing time for cases after taxpayers submit complete materials to a maximum of 120 days and to significantly lower the penalties under the current system, while also considering arrangements for installment payments. Koopman made it clear that there will not be a separate voluntary disclosure procedure for digital assets such as cryptocurrencies; related tax violations will be handled under the same unified system as other taxable income. This plan is mainly aimed at intentional tax violations that may involve criminal liability. The specific penalty standards and final implementation details have not yet been announced.
Source:X
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