There are probably going to be a lot of worried Bitcoin fans waiting by their mailbox, but the reality is perhaps less severe. According to an article on Forbes, the mail campaign has all the hallmarks of a “scattergun” approach, suggesting that the taxman is not necessarily interested in following up with every individual they reach out to.
Perhaps due to Bitcoin’s relatively unknown status for the majority of its existence, crypto largely escaped the taxman’s watchful eye for several years. That changed after the mammoth 2017 bull run.
The IRS is most interested in any Coinbase accounts whose transaction history exceeds $20,000.
Government 'help' to business is just as disastrous as government persecution... the only way a government can be of service to national prosperity is by keeping its hands off.