Cryptocurrency holders in the U.S. may be fined by the IRS for underpayment of taxes

According to CoinDesk, a survey by the Institute of Certified Public Accountants (CPA) found that CPAs with crypto knowledge believe that their clients may be subject to audits and fines by the Internal Revenue Service (IRS) for failing to fully pay their cryptocurrency holding taxes. The report states that customers who hold cryptocurrencies are still unaware of how to handle cryptocurrency reports and bear tax liabilities.