Court Grants IRS Summons Seeking Bitcoin Users’ Data from Coinbase
A federal judge has approved an Internal Revenue Service summons requiring bitcoin wallet and exchange Coinbase to disclose transaction records of bitcoiners between January 1, 2013 and December 31, 2015. In statements, Caroline D. Ciraolo, head of the Justice Department’s Tax Division stated: As the use of virtual currencies has grown exponentially, some have raised questions about tax compliance. Tools like the John Doe summons authorized today send the clear message to U.S. taxpayers that whatever form of currency they use – bitcoin or traditional dollars and cents – we will work to....
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The Federal Court of Northern California District rules in favor of the John Doe summons issued on behalf of the IRS to Coinbase. Bad news for the Bitcoin community! In the days following Internal Revenue Service’s (IRS) John Doe summons to Coinbase, the federal court in the Northern District of California has ruled in favor of the department. The ruling comes after Coinbase filed an appeal, seeking clarification about the extent of IRS authority and validity of the summons. With the latest ruling authorizing the IRS to serve John Doe summons to Coinbase, the digital currency platform will....
Jeffrey Berns, an attorney representing Coinbase in its legal fight against the Internal Revenue Service summons to provide customer information, recently filed a response to the “John Doe” summons, asking the court to quash the summons in its entirety, order a limited hearing and discovery into government’s good faith, or reconsider its decision to grant the IRS petition. Berns’ motion calls the IRS summons “unprecedented use” of the IRS John Doe summons procedure. Coinbase has said it is committed to customer privacy and opposes the government’s efforts to gain customer information.....
An attempt by the IRS to obtain user records from digital currency exchange Coinbase just got more complicated. Court documents filed in the District Court for the Northern District of California this week show that lawyers for the California-based startup have filed to officially intervene in the case. The US Internal Revenue Service (IRS) launched its case in late November, seeking court approval for a subpoena that would allow it to obtain information on US users (and, in its eyes, potential tax cheats) who used the service between 2013 and 2015. A month later, Coinbase customer Jeffrey....
Bitcoin exchange Coinbase is under scrutiny by the government agency the IRS, shocking the community. However, it seems Coinbase will be doing everything it can to protect its customer’s data and possibly fight the summons through litigation. Can the IRS Really Sift Through All Coinbase Customers Transactions Over Three Years? As Bitcoin.com reported....
The Internal Revenue Service (IRS) is seeking access to user records held by bitcoin and ether exchange Coinbase as part of a taxpayer investigation. The US tax agency filed a petition in the District Court for the Northern District of California on 17th November asking for permission to serve a summons to Coinbase over user information, court records show. The targets of the investigation are not directly named, but are rather referred to as a group of "John Does" who are believed to have avoided or failed to have paid taxes on transactions involving digital currencies. Now, it....