U.S. tax collectors urge owners of virtual currencies to pay back taxes, file amended returns

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U.S. tax collectors urge owners of virtual currencies to pay back taxes, file amended returns
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The U.S. Internal Revenue Service on Friday said it was sending thousands of let...

FILE PHOTO: A token of the virtual currency Bitcoin is seen placed on a monitor that displays binary digits in this illustration picture, December 8, 2017. REUTERS/Dado Ruvic/Illustration/File Photo

The IRS said it planned to send over 10,000 letters to taxpayers in an effort that began earlier in July and will continue through August. “Taxpayers should take these letters very seriously by reviewing their tax filings and when appropriate, amend past returns and pay back taxes, interest and penalties.”

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