Crypto has been difficult to tax in part because it is a new asset class that has just emerged. The IRS and other taxing authorities had to develop the taxing methods that would be used. One of the things that makes it difficult is that the taxpayer has to keep track of the cost basis and fair market value of the bitcoin each time a taxable event occurs. Some taxpayers may not have reported their crypto transactions in the past which implies they may not have known that the transactions were taxable or that they had to keep their records up to date. According to the article one of the crypto tax changes is that the IRS is taking a harder look at crypto currency transactions and potentially their will be more tax audits of crypto currency transactions. Taxes are due when the crypto is used as a method of exchange like buying one bitcoin with another or paying for goods and services. Trading or spending crypto triggers a taxable event. Crypto currency is typically required to be reported as a short-term or long-term capital gain depending on how long the taxpayer has owned the crypto currency. The difference between