Sentencing for tax evasion: Frank Richard Ahlgren, from Austin, Texas, was sentenced to two years in prison for underreporting 4 million USD in cryptocurrency gains. He inflated the cost basis of his Bitcoin to evade taxes, committing serious tax fraud during 2017 to 2019.
Trends in crypto tax enforcement: The case against Ahlgren highlights the increasing scrutiny and enforcement actions regarding cryptocurrency taxes. Following his actions of fund transfers and mixing, the court mandated a restitution payment of 1,095,031 USD to address his tax liabilities.