Deputy associate chief counsel Robert Wearing of the IRS said that the agency would seize cryptocurrency assets to settle unpaid taxes.
The perceived authority to seize an asset like bitcoin from the IRS stems from a 2014 notice it issued claiming that “virtual currency is treated as property for Federal income tax purposes.”
But there is still some question as to how the IRS would accurately determine the BTC holdings of taxpayers, let alone compel them to relinquish their bitcoin.
Check It Out: IRS Can Seize Your Bitcoin if you Have Unpaid Taxes
