Blockchain Technology And The IRS: How The Use Of Blockchain Technology Could Interfere With A Taxpayer’s Privacy Rights

We will examine the benefits and dangers of implementing blockchain technology within the IRS framework. In the context of filing and reviewing tax returns, implementing blockchain technology within the tax industry could soften the relationship between the government, particularly with the IRS, and the taxpayer with speedier refunds, more efficient communications, and a uniform effort to deal with controversy more effectively. Part II will provide a brief background on the pros and cons of using blockchain technology to file tax returns. Parts III and IV will focus on two of the current laws governing cyberspace technology and how each law would apply to blockchain technology within the IRS. In doing so, we will be confronted with problems that the convenience of technology would bring. Part V will then contemplate possible solutions. In conclusion, blockchain technology is a tool that should not be dismissed nor interpreted as an easy fix