Cohen Rife & Jutzi PC

https://www.forbes.com/sites/lynnmucenskikeck/2022/02/22/how-the-irs-is-looking-for-its-share-of-cryptocurrency-and-nft-growth/?sh=19e57b733d1d

How The IRS Is Looking For Its Share Of Cryptocurrency And NFT Growth While many persons trading cryptocurrency or buying a non-fungible token (“NFT”) think they are doing something new and fun, what they don’t realize is that the IRS is looking to collect their share. Persons involved in digital currency are often shocked when they learn of their tax bill.

Gift tax: This year, the lifetime gift tax exemption amount increased from $11.7 million to $12.06 million. While this year's exemption amount increased as in years past, that number is set to be likely cut half in 2026. The top marginal rate remains 40 percent. For the past four years, the annual gift tax exclusion amount remained at $15,000, but it has increased this year to $16,000. Annual exclusion gifts for non-citizen spouses have increased to $164,000, up from $159,000.

https://www.marketwatch.com/story/the-irs-is-tapping-a-second-surge-team-as-backlog-now-lumps-in-2022-tax-returns-11645138540

The IRS is tapping a second ‘surge’ team as backlog now lumps in 2022 tax returns Now the IRS is calling in even more reinforcements as the pending paperwork begins including returns filed this year.

https://www.google.com/amp/s/www.cnbc.com/amp/2021/07/28/lawmakers-vow-to-curb-abuse-of-multimillion-dollar-iras.html

As multimillion-dollar IRAs grow, lawmakers vow to curb abuse of these accounts Data for the 2019 tax year shows that 497 taxpayers have $25 million or more in aggregate IRA balances. Some lawmakers hope to curb use of those tax shelters.