- The Internal Revenue Service (IRS) has obtained a “court order authorizing summons for records relating to U.S. taxpayers who failed to report and pay taxes on cryptocurrency transactions”.
- IRS investigations have identified at least 10 U.S. taxpayers who conducted crypto transactions on the SFOX platform but failed to report those transactions to the IRS as required by law.
- U.S. Attorney Damian Williams opined: “The government is committed to using all of the tools at its disposal, including John Doe summonses, to identify taxpayers who have understated their tax liabilities by not reporting cryptocurrency transactions, and to make sure that everyone pays their fair share”.
US Court Authorizes IRS to Issue Summons for Crypto Investors’ Records
