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RE: US Tax Considerations – UPDATE on the IRS “John Doe” Summons to Coinbase
Very scary. This is just the beginning. Coinbase thought they were safe but now they must think it through and so must their customers.
@coldcuts many tax professionals thought the US Magistrate would have limited the scope of the summons.
Unfortunately,as I stated in previous articles, I would expect Poloniex and Kracken to receive similar demands in the near future. The audit reports issued in September have placed all things crypto squarely in the sights of the IRS and it is clearly becoming an enforcement priority.