The IRS has reportedly fired an investigative team that was looking into Hunter Biden's financial dealings, causing concerns about the impartiality and transparency of the investigation. Critics have questioned the motivations behind the move, and the whistleblower's claims of retaliation have highlighted the need for whistleblower protections. The dismissal of the investigative team has already undermined the integrity of the investigation, and there are serious risks of retaliation against the whistleblower. President Joe Biden will need to address these concerns and ensure transparency and accountability in government agencies.

The IRS Criminal Investigation Division is collaborating with Ukrainian investigators to target Russian individuals who may be using cryptocurrencies to hide their assets following Russia's invasion of Ukraine. The agency is working closely with Chainalysis, a blockchain analytics firm, to provide specialized tools and training to Ukrainian law enforcement in tracing blockchain transactions. The IRS is sponsoring Ukrainian investigators' access to a Chainalysis tool designed to aid in crypto-related probes and has offered virtual and in-person training sessions on tracing blockchain transactions. This move is part of the IRS's efforts to combat the use of cryptocurrencies for financial frauds such as money laundering, market manipulation, and tax evasion.

The US Internal Revenue Service (IRS) has reportedly trained Ukrainian law enforcement agencies to detect illegal cryptocurrency transactions carried out by Russian oligarchs and companies. The move is aimed at preventing Russia from using digital assets to evade Western-imposed restrictions or finance war-related efforts. The training includes the use of Chinalysis Reactor, an investigation software that connects cryptocurrency transactions to real-world entities. The Ukrainian agencies also aim to halt Russian fundraising campaigns related to cryptocurrencies, which they believe could be used to circumvent sanctions.

The US Internal Revenue Service (IRS) has filed tax claims of $44 billion in the FTX bankruptcy case, prioritizing them over the creditors' claims. The IRS filed the tax bill under administrative claims, which have the highest priority among creditor claims in a bankruptcy case.

The U.S. Internal Revenue Service (IRS) and Chainalysis are collaborating with Ukrainian investigators to target Russian oligarchs who may be using cryptocurrency to evade sanctions. The IRS is providing blockchain analysis tools to approximately 50 Ukrainian law enforcement officers through licenses donated by Chainalysis. The training is aimed at improving digital investigative skills to trace the source of blockchain funds and unmask cryptocurrency transactions. The move comes as concerns remain that Russian oligarchs could be using cryptocurrency to circumvent U.S. and European economic sanctions.

The United States Internal Revenue Service (IRS) has utilized blockchain analysis to confiscate approximately $10 billion worth of cryptocurrency during investigations into digital asset-related crimes. The head of the IRS Criminal Investigation (CI) unit, Jim Lee, shared insights into how the agency has tackled the use of cryptocurrency and digital assets in financial crimes during an exclusive interview with Cointelegraph at the Links conference in Amsterdam. The CI unit has been successful in seizing billions of dollars involved in cryptocurrency-related crimes, including the 2016 Bitfinex hack. Additionally, the CI unit shares its expertise and tools with law enforcement agencies worldwide and has reminded taxpayers to report crypto income ahead of the 2022 filing deadline.

The IRS has filed claims worth almost $44 billion against bankrupt crypto exchange FTX and its affiliated entities. The claims include 45 against FTX companies, with the largest being a $20.4 billion claim against Alameda Research LLC. The IRS is claiming about $20 billion in partnership taxes and millions in withheld income and payroll taxes. The claims are filed under the classification "Admin Priority," which could allow the IRS' claims to take precedence over other creditors in a bankruptcy case. FTX's bankruptcy attorneys have located more than $5 billion in various assets, and the company estimates it has between $1 billion and $10 billion in assets overall.

The U.S. Internal Revenue Service hopes to issue crypto tax guidance ready "in 12-ish months," Julie Foerster said from the stage at Consensus 2023 on Friday.

Cryptocurrency exchange Kraken is challenging a probe by the IRS relating to the tax reporting of its users. The IRS is investigating whether there are users who are underreporting their tax payments. Kraken's decision to narrow the scope of the investigation is a sign of crypto companies in the United States fighting back against what they consider to be unfair scrutiny. Coinbase is another exchange that has proven to be tough when it comes to scrutiny and is currently in a battle with the SEC. U.S. authorities' moves have irked the crypto community, who think that it is an overreach, and taxation and KYC remain some of the biggest concerns for authorities in the United States.

The Internal Revenue Service (IRS) plans to send four agents who specialize in investigating cybercrime to Australia, Singapore, Colombia, and Germany starting this summer. These four new positions represent a significant increase in the IRS’s global efforts to fight cybercrimes, such as those involving cryptocurrency, decentralized finance and crypto laundering services.