U.S. tax agency unveils digitization plan, including crypto projects
As the tax season in the United States draws to a close, the country’s tax agency aims to increase its technological capabilities.
In a news release on April 2, the Internal Revenue Service revealed ambitious plans to digitize operations in fiscal 2021. The initiative includes a move away from paper, a focus on data mining to from poor quality images and the development of new tools based on artificial intelligence. and machine learning.
The AI ââand machine learning projects are specifically aimed at developing automated customer service chatbots and better tracking cryptocurrency transactions.
The list reads: “The IRS uses publicly available sources of information regarding cryptocurrency, and an initiative to bring public and open source data for the necessary deconfliction and analysis could demonstrate the value of service. ”
The IRS is considering AI and machine learning by relying on numerous data entries to find information about crypto services:
âAn automated process would be put in place to ingest the data into an environment for agency-wide access. Open source data could consist of information on the dark web / clear web, social media, records / public repositories and technical components such as available domain name registration (DNS), geolocation IP data, etc. “
Last week, the IRS was heavily involved in crypto. The tax agency is involved in two lawsuits seeking information about customers of the USDC Circle issuer and users of the Kraken crypto exchange.
The IRS press secretary had not responded to The Block’s request for comment at the time of publication.