Internal Revenue Service regulator
Overview
The Internal Revenue Service (IRS) is the U.S. federal agency responsible for tax administration and enforcement of tax laws. It oversees the tax treatment of cryptocurrency transactions, treating virtual currencies as property for federal tax purposes. The IRS issues guidance and conducts enforcement actions to ensure compliance with tax obligations related to digital assets.
Within the DeFi Intel graph, Internal Revenue Service connects to 2 tracked entities, most strongly to DeFi Education Fund, Proof of Stake Alliance.
Relations
Top connections in the DeFi Intel knowledge graph (confidence-weighted, 2 of 2 total).
| Relation | Connected entity | Confidence |
|---|---|---|
sued_by | DeFi Education Fund | 85% |
regulated_by | Proof of Stake Alliance | 70% |
Frequently asked questions
What is the Internal Revenue Service?
The Internal Revenue Service (IRS) is the U.S. federal agency responsible for tax administration and enforcement of tax laws.
How does the IRS treat cryptocurrency for tax purposes?
The IRS treats virtual currencies as property for federal tax purposes and issues guidance and conducts enforcement actions to ensure compliance with tax obligations related to digital assets.
Which entities have legal or regulatory interactions with the IRS?
The IRS has been sued by the DeFi Education Fund and is a regulator of the Proof of Stake Alliance.