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The U.S. Internal Revenue Service is pursuing an overhaul of its tax voluntary disclosure program that would cover cryptocurrency and aim to lower penalties and shorten processing times, Cointelegraph reported. Jarod Koopman, head of the IRS Criminal Investigation division, said the agency aims to introduce the revamp before December and process cases within 120 days after taxpayers complete required filings. The IRS plans to use its existing voluntary disclosure program rather than create a separate crypto-specific process, while installment payments and negotiated penalty relief are also under review. The agency did not disclose the specific size of any penalty cuts, and the program is intended for taxpayers who could face criminal punishment for willful tax violations. Separately, Congress is also discussing a distinct cryptocurrency voluntary disclosure option for correcting non-willful filing errors, according to the report.