Bitcoin User Files To Block IRS Access To Coinbase Accounts


Typically, the courts give the IRS wide latitude to enforce summonses that may uncover information regarding potential tax evasion. The IRS doesn’t need “probable cause,” or even “reasonable suspicion,” like the police might need to investigate a crime. Rather, under federal law, the IRS has the power to examine any data that may be relevant to determining the correct tax owed by any taxpayer.

If that sounds sweeping, it is.

The IRS’s goal here is to use this broad power to obtain heaps of data on digital currency transactions. What’s more, the IRS hopes to get clues on who should be targeted for audits.

Source: Bitcoin User Files To Block IRS Access To Coinbase Accounts

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