Finding John Doe: IRS Steps up Enforcement Efforts to Take the Anonymity Out of Virtual Currency
By EsqSocial Corporation 21/04/21
The Internal Revenue Service (IRS) is stepping up its virtual currency enforcement, and taxpayers who have engaged in a cryptocurrency transaction should immediately assess any potential tax implications as the IRS has recently issued two John Doe summonses to popular exchanges. These are the first it has issued in about three years, sending a very clear signal that the IRS is ready to tackle what it believes to be a continuing noncompliance......
By: McDermott Will & Emery