US Court Authorizes IRS to Issue Summons for Crypto Investors’ Records
The Internal Revenue Service (IRS) has obtained a “court order authorizing summons for records relating to U.S. taxpayers who failed to report and pay taxes on cryptocurrency transactions.” The IRS commissioner commented: “The government’s ability to obtain third-party information on those failing to report their gains from digital assets remains a critical tool in catching tax cheats.” IRS Seeks Crypto Investors’ Records From Bank The U.S. Department of Justice (DOJ) announced Thursday that the Internal Revenue Service (IRS) has....
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The Internal Revenue Service (IRS) has obtained court authorization to serve a John Doe summons on cryptocurrency exchange Kraken. The tax agency is seeking data of users with $20,000 or more in cryptocurrency transactions during the years 2016 to 2020. IRS Wants User Information From Crypto Exchanges The U.S. Department of Justice (DOJ) announced Wednesday that a federal court in the Northern District of California has authorized the IRS “to serve a John Doe summons on Payward Ventures Inc., and subsidiaries d/b/a Kraken.” The IRS is “seeking information about U.S.....
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....
Transaction records of Coinbase users, specifically bitcoiners, have been targeted by the Internal Revenue Service (IRS), according to a federal case filed in the U.S. District Court in the California Northern District Court. First revealed by ZeroHedge on a late Thursday night November 17, the civil petition was filed in the federal court in California the same day. With a “John Doe” summons, a summons issued by the IRS to a third party to provide information on unnamed, unknown taxpayer(s), the filing reads: Based upon a review of the Petition and supporting documents, the Court has....
In a precedent-setting victory for the United States tax authorities, a California federal court has ruled in favor of the IRS serving Coinbase Inc. with a “John Doe” summons. The IRS requires the approval of a federal court in order to issue said summons, which covers virtually all Coinbase users who were clients from 2013 to 2015. The extent of this back-door surveillance is stunning in its depth and scope. Let’s review what the official “John Doe” summons requires of Coinbase: “Complete user profile, history of changes to user profile from account inception, complete user preferences,....
The Internal Revenue Service (IRS) has obtained authorization from a federal court to seek information on cryptocurrency users from Circle and Poloniex exchange platforms. The tax authority wants records identifying crypto users who conducted $20,000 or more in crypto transactions during the years 2016 to 2020 as well as other documents relating to their crypto transactions. IRS Got Court Approval to Summon Data on Crypto Users From Circle and Poloniex The U.S. Department of Justice (DOJ) announced Thursday that a federal court has authorized the IRS “to serve a John Doe....