Why IRS is hitting hard on cryptocurrency traders?

Cryptocurrency traders in the United States of America (USA) are under the Federal agency Internal Revenue Services’ (IRS) gun lately. IRS has been issuing warning letters and action letters to suspected digital currency holders and traders. These traders and holders of cryptocurrency might have probably misreported their digital assets on the tax returns. Throughout the country, letters such as the 6173, 6174-A and the CP2000 have been received by many of these cryptocurrency traders. Moreover, the software companies that deal with crypto tax have been dealing with an increasing number of frantic customers who are seeking help to avoid penalties.