The US Internal Revenue Service (IRS) is seeking assistance from the cryptocurrency industry to improve tax compliance. The IRS's Digital Asset Initiative Project Office (DAIPO) has issued a Source Sought Notice, requesting solution and product ideas from industry partners to enhance the agency's pricing and market data capabilities.

The IRS is particularly interested in solutions that can help identify digital asset transactions and transaction patterns, provide bulk data analysis, compute tax consequences of digital asset activity, and assess and analyze digital asset transactions.

The agency is also looking for additional pricing data vendors who can provide pricing data by the hour, minute, and second. The request for information is part of an agency-wide initiative to increase enforcement activities for high-risk compliance violations, including digital assets and listed transactions.

The IRS and Treasury have promised changes in how digital assets may be taxed, but have not provided any updates on the timeline or expected release date.