CoinLedger, a crypto tax platform, has seen a spike in users asking about the government communiqués. The number of support conversations on CoinLedger that included the words “IRS letters” from May through June numbered close to 800, a ninefold increase compared to the same period in 2024, David Kemmerer, cofounder and CEO of the tax website, told Fortune.
“Thousands of investors are getting these,” he claimed. “Naturally, when that happens, we get a flood of customers coming to us being like, ‘Hey, what do I do?’”
Two crypto tax attorneys have also noticed an uptick in inquiries about the letters. At least 10 recipients have reached out to his firm over the past two months, said Jordan Bass, a crypto tax attorney and accountant. That’s compared to no inquiries sent to his office in 2024.
Andrew Gordon, another attorney who specializes in crypto tax law, also said he’s seen an increase. “We’re getting at least a couple calls a week,” he said.
The CoinLedger CEO and the two crypto tax attorneys did not know why more investors have reached out to them about IRS letters in 2025 as opposed to years prior. Gordon, one of the tax attorneys, noticed that a common factor linking recent recipients were that they had accounts on the crypto exchange Poloniex.
Kemmerer, the CEO of CoinLedger, echoed Gordon and said that increased IRS outreach to crypto investors “typically follows when the IRS has gotten their hands on some amount of data.”
The IRS did not immediately respond to a request for comment.
“I’m sure there’s just people randomly getting selected, and the lucky ones get these scary letters,” added Kemmerer.
