IRS Deploys New Crypto Audit Form Requiring Full Exchange and Wallet Disclosure

The IRS is using a new audit form that requires taxpayers to disclose their full activity history across more than 100 cryptocurrency platforms, including exchanges such as Coinbase, Binance, Kraken, FTX, and Mt. Gox, as well as self-custody wallets like MetaMask, Ledger, and Trezor, tax professionals say. Recipients must answer YES or NO for each listed platform and sign under penalties of perjury, a structure designed to map a taxpayer's entire crypto footprint over multiple years. Omitting a previously used platform may trigger further scrutiny, while acknowledging numerous services could prompt additional questioning. Tax professionals recommend consulting a crypto tax attorney before signing, citing substantial legal risk.