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11-10-2017, 09:07 AM
IRS targets Coinbase users in an attempt to thwart tax fraud
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The Internal Revenue Service is heading to court today with the goal of forcing Coinbase, a U.S. cryptocurrency exchange, to hand over data on a host of its users. Why? According to the government agency, all is not right in the land of blockchains — and it's past time the company play ball.*
The beef spans back to 2016, reports Bloomberg (https://www.bloomberg.com/news/articles/2017-11-09/coinbase-escalates-showdown-on-u-s-tax-probe-as-bitcoin-surges), when the IRS requested data on the service's users claiming that an unspecified number failed to properly report their holdings for tax purposesCoinbase (http://mashable.com/2013/12/12/coinbase-funding/), for its part, called the summons overly broad and refused to comply.*
SEE ALSO: This app will automatically invest your spare change in cryptocurrency (http://mashable.com/2017/09/26/coinflash-app-invests-spare-change/) Read more... (http://mashable.com/2017/11/09/irs-coinbase-user-data/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial)
More about Bitcoin (http://mashable.com/category/bitcoin/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial), Coinbase (http://mashable.com/category/coinbase/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial), Irs (http://mashable.com/category/irs/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial), Ethereum (http://mashable.com/category/ethereum/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial), and Cryptocurrency (http://mashable.com/category/cryptocurrency/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial)http://feeds.feedburner.com/~r/Mashable/~4/jzlYn6gnFGk
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The Internal Revenue Service is heading to court today with the goal of forcing Coinbase, a U.S. cryptocurrency exchange, to hand over data on a host of its users. Why? According to the government agency, all is not right in the land of blockchains — and it's past time the company play ball.*
The beef spans back to 2016, reports Bloomberg (https://www.bloomberg.com/news/articles/2017-11-09/coinbase-escalates-showdown-on-u-s-tax-probe-as-bitcoin-surges), when the IRS requested data on the service's users claiming that an unspecified number failed to properly report their holdings for tax purposesCoinbase (http://mashable.com/2013/12/12/coinbase-funding/), for its part, called the summons overly broad and refused to comply.*
SEE ALSO: This app will automatically invest your spare change in cryptocurrency (http://mashable.com/2017/09/26/coinflash-app-invests-spare-change/) Read more... (http://mashable.com/2017/11/09/irs-coinbase-user-data/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial)
More about Bitcoin (http://mashable.com/category/bitcoin/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial), Coinbase (http://mashable.com/category/coinbase/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial), Irs (http://mashable.com/category/irs/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial), Ethereum (http://mashable.com/category/ethereum/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial), and Cryptocurrency (http://mashable.com/category/cryptocurrency/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial)http://feeds.feedburner.com/~r/Mashable/~4/jzlYn6gnFGk