Do Son Earlier this month, theverge had reported that “the IRS is eyeing the Coinbase” encrypted currency tax “sooner”. Last Friday, the cryptocurrency trading platform has warned more than 13,000 customers that its data is about to be submitted to the IRS within 21 days, according to a court order. As early as November 2016, the IRS had put forward this requirement to identify all those who evaded taxes by buying cryptocurrencies such as bitcoin between 2013 and 2015.
Despite Coinbase’s strong resistance, in November last year, the court in San Francisco ruled that it had to produce a record of the identities of all its users with a transaction volume of more than $ 20,000 between 2013 and 2015.
These data include the taxpayer’s ID, name, birthday, address, and transaction history, and any affected customers should now receive an email notification from Coinbase.
Source: theverge
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