IRS cracking down on tax evasion in cryptocurrency industry

• The IRS is cracking down on tax evasion in the trillion-dollar industry of cryptocurrency. The agency investigated nearly 400 cases involving virtual currency or digital assets. The agency recommended more than half of those cases for persecution. It’s trying to find taxpayers who leave digital assets off their tax returns as part of its Operation Hidden Treasure. But an agency watchdog says that campaign is focused more on acquiring tools and training, rather than enforcement.
  (Virtual currency tax compliance enforcement can be improved - Treasury Inspector General for Tax Administration )
• The Defense Department’s Office of Inspector General finds that the DoD chief information officer office did not fully adhere to the policies set by the Office of Management and Budget. The CIO office failed to ensure that a significant portion of the DoD Digital Modernization Strategy is verifiable and measurable. Additionally, the office didn’t provide yearly assessments of the strategy in fiscal 2022 and 2023. The DoD CIO agreed to address the inspector general's recommendations.
  (DoD CIO failed to conduct Digital Modernization Strategy annual reviews - DoD IG)
• The Senate’s version of the 2025 defense policy bill requires the under secretary of defense for acquisition and sustainment to establish a pilot program within the Defense Department to track contracts awarded to small businesses and nontraditional defense contractors. The program would track the number and amounts awarded to small businesses using other transaction authority, including those conducted through consortia. The program should minimize additional reporting requirements for the businesses. The under secretary of defense for acquisition would brief lawmakers on the awards data the pilot program is collecting one year after the enactment of the defense bill.
  (NDAA to establish program for tracking small business awards - Senate Committee on Armed Services)
• Senate lawmakers are launching an investigation into security failures that led to an assassination attempt on former president Donald Trump. Leaders of the Senate Homeland Security and Governmental Affairs Committee are requesting a closed-door briefing from the Secret Service, the FBI and the Department of Homeland Security before the end of next week. Committee Chairman Gary Peters and Ranking Member Rand Paul are asking officials from those agencies to testify before the committee in a public hearing by the end of the month. The top Republican on the House Oversight and Accountability Committee is also calling for a hearing with the Secret Service.
  (Peters and Paul announce bipartisan HSGAC investigation into security failures and the assignation attempt on former president Donald Trump - Senate Homeland Security and Governmental Affairs Committee)

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• The federal government is once again in the market for clean energy. The Pentagon and the General Services Administration published solicitations this week, looking for vendors who can supply federal buildings in 13 states and the District of Columbia with carbon-free energy. The government expects to buy about three-and-a-half million megawatt hours of clean electricity each year under the new procurements. It’s part of the Biden Administration’s goal to get federal facilities off of carbon-emitting energy sources by 2030.
  (GSA and DoD announce plans carbon pollution-free electricity procurement - Department of Defense )
• The Transportation Department is hiring a chief artificial intelligence officer. The job posting is open through Aug. 9. The position is based in DC, but eligible for occasional telework. The CAIO will help coordinate Transportation’s use of AI, while also promoting AI innovation and helping to address the risks of the technology. In May, the Transportation Department’s Advanced Research Projects Agency put out a request for information on the potential applications of AI in the transportation sector.
  (Chief Artificial Intelligence Officer (CAIO) - USAJobs)

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