Well if you really want to be avoided by being audited by the IRS you mus include your earnings from the ICO In your income tax report. It could be classified as 2 kinds you can either make it as an income or you can put it as capital gains like in real estate and stocks. It is really up to you on which it can be tax lower. Hiding your true income is really a pain in the ass, so if you don't want to be bothered by the IRS you must be truthful.