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Those who fail to comply may be guilty of felony offenses. Section I of the Internal Revenue Code is meant to prevent money laundering and other illicit activity through cash and cash-like instruments 2. How will mining and staking rewards be treated? Penalties for noncompliance are steep and include both civil and criminal consequences:. B cause or attempt to cause a trade or business to file a return required under this section that contains a material omission or misstatement of fact, or.
