[Webinar] Cryptocurrency Global Tax Enforcement: What Investors and Companies in the Industry Need to Know NOW

June 28th, 12:00 pm - 1:30 pm EDT
McDermott Will & Emery

McDermott Will & Emery

June 28th, 2021
12:00 PM - 1:30 PM EDT

Following the US Internal Revenue Service’s (IRS) announcement of “Operation Hidden Treasure,” companies and individuals should prepare for increased scrutiny of virtual currency transactions. Unveiled in March, the operation includes a team of specially-trained agents focused on finding taxpayers who omit income from these transactions on their tax returns.

At the same time, the IRS Fraud Enforcement Office and Criminal Investigation Unit are continuing to work with international law enforcement and crypto industry experts to “root out” tax evasion. The operation includes using John Doe summonses and other tools to find perpetrators and businesses that may have facilitated tax evasion.

As explained in our recent article, thousands of letters are expected to be issued as a result of the recent summonses to Kraken and Poliniex, as well as potential visits by IRS agents to cryptocurrency businesses.

Join us for a program covering the latest updates on government enforcement efforts and how investors and companies in the virtual currency industry should address these actions. We are pleased to be joined by Gary Alford, one of the leading IRS agents in the government’s crypto enforcement efforts, Perry Carbone, the Chief of the White Plains Office from the US Attorney’s Office for the SDNY and Andy Cole CBE, former Director of Specialist Investigation at HM Revenue & Customs in the United Kingdom.

Topics will include:

  • How to address the tax consequences of past virtual currency transactions, including potential voluntary disclosure considerations.
  • How to protect your business from a US Department of Justice (DOJ) or UK investigation, including compliance updates to address this risk.
  • Law enforcement perspectives and updates from the IRS, DOJ and a former high-level director at HM Revenue & Customs.
  • How to respond to an IRS letter, including potential civil resolutions.
  • How to respond to a DOJ or a UK Serious Fraud Office (SFO) inquiry, summons, subpoena or search warrant or a whistleblower complaint.


Gary Alford | Supervisory Special Agent, IRS-CI

Mayling Blanco | Partner, Norton Rose Fulbright, New York

Perry Carbone | Chief of the White Plains Office, US Attorney’s Office for the SDNY

Andy Cole CBE | Former Director of Specialist Investigations, HM Revenue & Customs

Simon Airey

Senior Counsel | London

View Profile

Andrea S. Kramer

Partner | Chicago

View Profile

Carlos F. Ortiz

Partner | New York

View Profile

Kevin Spencer

Partner | Washington, DC

View Profile

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© McDermott Will & Emery | Attorney Advertising


McDermott Will & Emery

McDermott Will & Emery on:

Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
Custom Email Digest
- hide
- hide

This website uses cookies to improve user experience, track anonymous site usage, store authorization tokens and permit sharing on social media networks. By continuing to browse this website you accept the use of cookies. Click here to read more about how we use cookies.