IRS to exempt users who have traded less than $20,000 from verification
IRS to exempt users who have traded less than $20,000 from verification
DATE: July 13, 2017
FULL ARTICLE:
https://www.crypto-news.net/irs-to-exempt-users-who-have-traded-less-than-20000-from-verification/
Recent reports now indicate that the IRS is now taking a narrower path after being scrutinized by both the press and bitcoin users, hence deciding to only obtain records of transactions for users that have conducted transactions of at least $20,000. By doing so, a big percentage of users on Coinbase no longer have to worry about having their personal data checked by the Internal Revenue Service. It is important however, to keep in mind the fact that the $20,000 threshold affects users regardless of the transaction types that they have carried out, be it selling, sending, buying or receiving bitcoin.
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Good
Great info to know, thanks for the share. Coinbase just kept my business.