Can the IRS see my foreign bank account?
The Internal Revenue Service can track and link cryptocurrency wallets to individual taxpayers through a combination of mandatory exchange reporting, advanced blockchain analytics tools, and modern software contractors. While public blockchains operate on decentralized ledgers where individual wallet addresses use alphanumeric strings rather than personal names, government agencies employ sophisticated tracking software that clusters addresses, tracks transaction flows, and bridges anonymous wallets to real-world identities. Whenever a user transfers digital assets between a non-custodial wallet and a regulated centralized exchange that performs identity verification, a permanent data bridge is established, allowing tax auditors to trace on-chain activity and enforce compliance.
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