CELEBRATING OVER SIXTY FIVE YEARS

Summons issued to bitcoin exchange





Summons issued to bitcoin exchange. Coinbase, the nation’s largest bitcoin exchange firm, has been served with an IRS summons seeking records of customers who bought virtual currency from 2013 to 2015. The summons states that an IRS agent recently found three cases involving bitcoin users (including two Coinbase customers) who used the currency to evade taxes. The IRS has also stated Coinbase users haven’t complied with federal tax law in the past. A company lawyer stated, “We want to work with law enforcement…but we can’t tolerate sweeping fishing expeditions.” 

Blog