Gate News reports that on March 10th, the IRS introduced a new audit form for cryptocurrency tax audits, requiring taxpayers to disclose their complete transaction and wallet history. The form lists over 100 platforms, including major centralized exchanges (CEX) and self-custody wallets like MetaMask, Ledger, and Trezor.
Taxpayers receiving the form must mark “Yes” or “No” for each platform and sign the document, with signing penalties for perjury. The form aims to map taxpayers’ full crypto activity across multiple exchanges and wallets, potentially covering several years.
Tax professionals warn that omitting platforms may trigger further scrutiny, while excessive disclosure could open new investigation leads. It is advised to consult a crypto tax attorney before signing. The audit typically targets three groups: those who check “Yes” on the digital assets section of Form 1040 but report minimal activity; those with mismatched 1099-DA income and tax returns; and high-frequency traders during the 2017-2021 bull market.
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