The IRS opens a criminal investigation into OnlyFans

The Future. The Future. OnlyFans blew up during the pandemic, nabbing over $2.3 billion in 2020. However, this success has also attracted the attention of the federal government. The IRS has now contacted some of the site’s most successful earners in connection with a criminal tax investigation — sparking speculation about the platform and its legitimacy. With Uncle Sam now involved, it’s unclear what the future holds for OnlyFans.

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Forbes outlined what the public knows and what they can reasonably expect to see from the investigation as more details emerge.

• IRS agents delivered Grand Jury subpoenas to high-earning OnlyFans performers and their tax agents, meaning the DOJ is involved. The government is likely interested in performers’ ostentatious displays of wealth.
• People who operate a business (including OnlyFans performers) can deduct from their tax owed any expenses that aren’t deemed “lavish or extravagant under the circumstances.”
• Some OnlyFans performers are definitely making purchases that most people would consider lavish, but they may try to argue that those purchases are actually a necessary part of their work. Buying a McLaren gets attention →  attention gets subscribers → subscriptions make money.

Question marks
Whether these subpoenas are for tax documents, court appearances, or both remains to be seen. It’s also unclear why this is a criminal tax investigation instead of a civil one. Regardless, we could be witnessing a scandal in the making.