Why irs Is Trending Today?

The White House is reviewing a proposal by the IRS to tax U.S. citizens' outbound crypto holdings using the Controlled Foreign Corporation (CFC) rules, specifically considering the use of the CARF (Check-the-Box) regulations. This review is part of the ongoing evaluation of potential tax implications and enforcement measures related to cryptocurrency transactions.

Trish Turner, the newly appointed head of the IRS's crypto division, has resigned from her position after just three months. Turner's departure has raised concerns about regulatory stability and compliance within the crypto industry.

Trish Turner, the IRS's Digital Assets Chief, has resigned from her position after serving for only three months. Turner, who was appointed to lead the IRS's efforts to regulate the crypto industry, has left to join a crypto tax firm, AInvest, amidst significant regulatory shifts in the sector. Her departure comes as the IRS is preparing to enforce new tax rules for digital assets.