IRS warning letters to crypto investors surged more than 750% in the past 60 days, raising concerns about new tax rules

Odaily News According to CoinLedger CEO David Kemmerer, the number of warning letters received by US crypto investors from the Internal Revenue Service (IRS) has surged 758% in the past 60 days, which may indicate that a new wave of tax enforcement is coming. This trend is related to the 1099-DA form regulations that will take effect in 2026, when crypto brokers will be required to report detailed profit and loss information of user asset transactions to the IRS. Common warning letters include educational 6174, suspected underreporting 6174-A, and 6173 and CP2000 that require response. Experts recommend that users take the initiative to organize transaction records and report them in a timely manner to reduce the risk of being audited. (The Block)