So, Crypto is so new, I am really not sure what the likelihood of it being caught is, or how it would be handled.

If it is being treated like any other unreported income then you will receive a noticed called CP2000. This notifies you of your unreported income and the penalty that you will incur because of it. The notice gives you a deadline to reply with either an amended return or some proof refuting the income (which doesn't happen because it's reported directly from the business that you got income from).

If you do not file an amended return then your account will automatically have the additional income taxes and a very sizable penalty added.

If that does happen and you get the penalty, you can file an amended 1040 at any time to reduce the tax and get rid of the penalty. But interest and penalties will still accrue on the additional taxable amount and penalty (along with any other balance due periods).

Hope this helps!