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:@taxpat: IRS Obtains Court Order Authorizing Summons For Records Relating To U.S. Taxpayers Who Failed To Report And Pay Taxes On Cryptocurrency Transactions :marseyxmr:

https://www.justice.gov/usao-sdny/pr/irs-obtains-court-order-authorizing-summons-records-relating-us-taxpayers-who-failed

Generated by TLDR This:

Specifically, the IRS summons seeks information about customers of SFOX, a cryptocurrency prime broker, who used banking services that M.Y. Safra Bank offered to SFOX customers engaged in cryptocurrency transactions.

As described further in the IRS’s petition in support of the summons, though taxpayers who transact in cryptocurrencies are required to report any associated profits and losses on their tax returns, the IRS’s experience has demonstrated significant tax compliance deficiencies relating to cryptocurrencies and other digital assets.

SFOX has partnered with M.Y. Safra to offer SFOX users access to cash-deposit bank accounts.

In this action, the district court granted the IRS permission to serve what is known as a John Doe summons on M.Y. Safra.

      • This case is being handled by the Office’s Tax and Bankruptcy Unit.

Assistant U.S. Attorney Jean-David Barnea is in charge of the case.

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>I can use crypto to hide money from the government

>Holds crypto in a US company's website linked to their bank account

>IRS finds out

>How did this happen to me?

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All these crypto sites are so fricking r-slurred.

Anonymous currency doesn’t work when you need to link your ID, bank account, and someone else is in control of your crypto.

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