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The United States District Court, Northern District of California approved IRS request to execute a John Doe summons to Kraken, demanding they turn over records of all U.S. citizens who used the exchange to conduct transactions totaling $20,000 or more from 2016 to 2020.
Dissenting Judge Elrod
DALLAS (Legal Newsline) - A Texas law firm lost its fight to block an Internal Revenue Service summons seeking the names of clients who sought tax advice after one of them was caught hiding money offshore.
In a curt order that was opposed by nearly half of the court’s 17 judges, the Fifth Circuit Court of Appeals rejected the Taylor Lohmeyer Law Firm’s request for an en banc hearing before the full court. The Dec. 14 order drew a strong dissent by Judge Jennifer Walker Elrod, who said the court should have taken up the case to “clarify the boundaries of attorney-client privilege in this precarious area.”