By Phil Karter In a high profile summons enforcement case brought by the Internal Revenue Service against Coinbase, Inc. (United States v. Coinbase Inc., No. 3:17-cv-01431 (N.D. Cal. 2017)), a virtual currency exchange for traders of popular digital cryptocurrencies like Bitcoin, Ethereum and Litecoin, the Internal Revenue Service sought the production by Coinbase of all of its customer records … Continue reading Taxpayers With Unreported Cryptocurrency Gains Should Start Thinking About Filing Qualified Amended Returns – And Soon
By Jonathan Prokup Five days ago, this would have seemed like just another April Fools' Day joke, but it is apparently quite real. Via the Washington Times, an excerpt: There's at least one government function some taxpayers might not miss in a government shutdown: IRS tax audits. A senior administration official, briefing reporters on potential … Continue reading Federal shutdown would stop tax audits?
As a follow up to my colleague George Connelly's earlier post concerning the IRS's recently announced "Global High Wealth" Industry Group, I offer some further thoughts on what the IRS is attempting to do with this new group focusing on wealthy individuals. The IRS recently announced that the group has issued its first batch of … Continue reading IRS Teaming Up on Wealthy Taxpayers