The US Internal Revenue Service is preparing to overhaul its voluntary disclosure program, with the changes expected to cover taxpayers who failed to comply with tax rules involving cryptocurrencies as well as more traditional forms of tax noncompliance. The proposed framework is intended to reduce penalties, speed up case resolutions and give taxpayers more flexibility in paying outstanding liabilities.
According to Cointelegraph, citing a Forbes report, IRS Criminal Investigation Chief Jarod Koopman said the agency wants to introduce the revised program before December. The target is to resolve cases within 120 days after taxpayers complete the required submission process.
One process for crypto and other tax violations
The planned overhaul would not create a separate IRS disclosure channel for digital assets. Cryptocurrency-related cases would instead be handled through the same voluntary disclosure procedures used for other forms of tax noncompliance.
That distinction matters because the existing IRS program is primarily designed for taxpayers whose deliberate failure to follow tax rules could lead to criminal prosecution. It is not generally aimed at people who made accidental reporting mistakes.
Koopman indicated that penalties under the revised program could be substantially lower than those imposed under the current process, although he did not give specific rates or amounts. The IRS is also considering payment arrangements, including installment plans and offers in compromise, which can allow eligible taxpayers to settle liabilities under agreed terms.
Proposed changes would shorten a lengthy process
The current voluntary disclosure process can take a year or longer to complete, Forbes reported. Cutting the target resolution time to 120 days would represent a significant change for taxpayers who choose to disclose past violations before facing potential criminal enforcement.
The proposal remains a planned program overhaul rather than a finalized set of rules. The source material does not specify the new penalty schedule, eligibility details or the precise date on which the revised process would begin.
Congress considers a separate crypto measure
Lawmakers are also considering a different approach for digital-asset taxpayers. Section 502 of the proposed Digital Asset Tax Certainty Act would establish a voluntary disclosure process for correcting past violations, including unintentional reporting errors.
The proposed legislation would set defined penalties, addressing a gap between accidental mistakes and the IRS’s existing program, which focuses mainly on willful noncompliance. The bill cleared the House Ways and Means Committee in September, but the material does not state whether it has become law.
Current crypto market picture
Moneyiar market data at 08:03 on October 24, 2026, showed declines across the four listed assets:
- Solana (SOL): $101.8455893948, down 2.25% over 24 hours and 2.92% over seven days.
- Gram (previously Toncoin) (GRAM): $1.2463546734, down 5.38% in 24 hours and 7.4% over seven days.
- Aster (ASTER): $0.6978447472, down 0.24% in 24 hours and 1.56% over seven days.
- Ethena (ENA): $0.1898595347, down 5.09% in 24 hours and 3.86% over seven days.
