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A Warning to Cryptocurrency Users from the Justice Department s Tax Division | Proskauer - Corporate Defense and Disputes

To embed, copy and paste the code into your website or blog: As you might expect during tax season, the Justice Department’s press releases seem particularly focused on tax-related issues these days.  At the start of this month, DOJ sent a stern reminder to the public that non-traditional currency users should not expect to escape federal tax law enforcement. On April 1, the district court for the District of Massachusetts authorized a “John Doe” Summons to a company called Circle Internet Financial Inc. (“Circle”), allowing the IRS to obtain identifying information about U.S. taxpayers and customers of Circle who engaged in cryptocurrency transactions valued at $20,000 or more over the last 4 years (from 2016-2020), as well as their transaction records.  The government’s application did not accuse Circle or any of its customers of wrongdoing.  Instead, as reported in its announcement, the government argued that cryptocurrency can be difficult to trace and has an “

IRS Seeks to Track Down Cryptocurrency Tax Scofflaws | Chief Investment Officer

IRS Seeks to Track Down Cryptocurrency Tax Scofflaws | Chief Investment Officer
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DOJ Tax Division Warning for Cryptocurrency Users

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A Warning To Cryptocurrency Users From The Justice Department s Tax Division - Technology

To print this article, all you need is to be registered or login on Mondaq.com. As you might expect during tax season, the Justice Department s press releases seem particularly focused on tax-related issues these days.  At the start of this month, DOJ sent a stern reminder to the public that non-traditional currency users should not expect to escape federal tax law enforcement. On April 1, the district court for the District of Massachusetts authorized a John Doe Summons to a company called Circle Internet Financial Inc. ( Circle ), allowing the IRS to obtain identifying information about U.S. taxpayers and customers of Circle who engaged in cryptocurrency transactions

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