The IRS has added another enforcement tool in its quest to root out crypto tax evasion. The new IRS initiative, named “Operation Hidden Treasure”, is a partnership between the Office of Civil Fraud Enforcement and the Criminal Investigation Unit to snuff out tax evasion from cryptocurrency owners. The IRS is also pursuing more John Doe summonses against cryptocurrency exchanges (it started with Coinbase last year). Most recently, the IRS sent Joe Doe summonses to Circle Internet Financial Inc. and crypto exchange Kraken. The IRS is seeking information about U.S. taxpayers who conducted at least the equivalent of $20,000 in transactions in cryptocurrency during the years 2016 to 2020. To put this request in perspective, consider that it is estimated that some 18 to 21 million taxpayers will need to consider cryptocurrency transactions in preparing their 2021 tax returns. It is apparent that IRS efforts against crypto users and tax evaders is just beginning.