Wednesday, June 16, 2021
Only Bitcoin Market News
Bitcoin Tax Solutions
  • Home
  • BITCOIN CASINO
  • Bitcoin
  • Market
  • Cash
  • Price
  • Beginners
  • Gold
  • Private
  • Cryptos
  • Investors
  • Technical
  • Crash
  • Spam
  • Stock
  • Blockchain
  • Videos
  • Home
  • Bitcoin
  • Market
  • Cash
  • Price
  • Beginners
  • Gold
  • Private
  • Cryptos
  • Investors
  • Technical
  • Crash
  • Spam
  • Stock
  • Blockchain
  • Videos
Only Bitcoin Market News
No Result
View All Result

US authorities crack down on crypto tax dodgers, demand customer info from exchange

1 month ago
in Blockchain
2 min read
US authorities crack down on crypto tax dodgers, demand customer info from exchange
Share on FacebookShare on Twitter


The IRS has been granted permission by a federal court to demand information from the Kraken exchange concerning any customers that conducted at least US$20,000 worth of cryptocurrency transactions between 2016 and 2020

Related articles

Boost for bitcoin as Tanzania government mulls introduction of cryptocurrencies

Boost for bitcoin as Tanzania government mulls introduction of cryptocurrencies

June 16, 2021
Billions in Bitcoin locked up in trusts, ETPs and corporate treasuries

Billions in Bitcoin locked up in trusts, ETPs and corporate treasuries

June 15, 2021

The US Internal Revenue Service (IRS) has been authorised by a federal court to serve summons against the Kraken cryptocurrency exchange as American authorities seek to crack down on tax dodgers.

On Wednesday, the federal court in the Northern District of California authorised the IRS to serve a John Doe summons to Payward Ventures Inc, Kraken’s parent company, in order to obtain information about taxpayers that conducted at least US$20,000 worth of cryptocurrency transactions through the exchange between 2016 and 2020.

READ: HMRC to demand crypto assets info from taxpayers

“Gathering the information in the summons approved today is an important step to ensure cryptocurrency owners are following the tax laws. Those who transact with cryptocurrency must meet their tax obligations like any other taxpayer”, said David A. Hubbert, acting assistant attorney general of the Justice Department’s Tax Division.

John Doe summons are used by the IRS as a summons for a tax investigation when the relevant taxpayer is unknown to authorities and cannot be identified by name.

While Kraken itself is not being accused of wrongdoing, the summons form another segment of a growing crackdown by the IRS on those seeking to avoid paying tax on crypto assets, which the federal government considers property.

In April, crypto payments firm Circle received a federal court order to deliver identifying documents for its customers engaged in similar crypto transactions.

Similar activities are underway on the other side of the Atlantic, with UK tax and customs authorities to begin demanding information on holdings in cryptocurrency for taxpayers that it investigates for tax evasion and avoidance



Read more:US authorities crack down on crypto tax dodgers, demand customer info from exchange

Tags: Authoritiesbitcoin news todayCrackCryptocustomerDemanddodgersExchangeInfoTax

Related Posts

Boost for bitcoin as Tanzania government mulls introduction of cryptocurrencies

Boost for bitcoin as Tanzania government mulls introduction of cryptocurrencies

by Bitcoin Market
June 16, 2021
0

The new broom that’s sweeping across Tanzania, in the shape of President Samia Suluhu Hassan, announced this week that...

Billions in Bitcoin locked up in trusts, ETPs and corporate treasuries

Billions in Bitcoin locked up in trusts, ETPs and corporate treasuries

by Bitcoin Market
June 15, 2021
0

Analysis from Nickel Digital Asset Management showed that US$43.2bn worth of the digital currency is currently allocated in trusts...

Bitcoin bounces as Musk says Tesla plans to resume payments

Bitcoin bounces as Musk says Tesla plans to resume payments

by Bitcoin Market
June 15, 2021
0

The billionaire tweeted on Sunday that the electric car maker will accept the cryptocurrency as payment once it confirmed...

Bitcoin breaks above US$40,000 following Tesla payment news

Bitcoin breaks above US$40,000 following Tesla payment news

by Bitcoin Market
June 14, 2021
0

It is the first time the digital currency has surpassed US$40k in value since late May Bitcoin has moved...

New Bitcoin ETP to list on Aquis Exchange later this month

New Bitcoin ETP to list on Aquis Exchange later this month

by Bitcoin Market
June 13, 2021
0

The arrival of 21Shares' Bitcoin ETP follows the launch on Aquis of ETC Group’s BTCE Bitcoin ETP, which on...

Load More

Trend Now

  • Trending
  • Comments
  • Latest
Crypto-Powered Social Media Platform Voice Planning Launch for July 4 | CryptoGlobe

Crypto-Powered Social Media Platform Voice Planning Launch for July 4 | CryptoGlobe

June 8, 2020
‘It will be ugly’: Bitcoin bear gives 2 reasons why he thinks the ‘bubble’ is going

‘It will be ugly’: Bitcoin bear gives 2 reasons why he thinks the ‘bubble’ is going

April 20, 2021
5 Cryptocurrency Staking Providers – A Review | Hacker Noon

5 Cryptocurrency Staking Providers - A Review | Hacker Noon

January 30, 2021
Argo Blockchain boosts mining margins in July

Argo Blockchain boosts mining margins in July

August 5, 2020
J.K. Rowling Twitter Storm shows the Crypto Ecosystem Needs to Mature – CityAM

J.K. Rowling Twitter Storm shows the Crypto Ecosystem Needs to Mature - CityAM

May 19, 2020
North America’s first bitcoin ETF launches in Canada today

North America’s first bitcoin ETF launches in Canada today

February 18, 2021
Bitcoin still being called a bubble after May’s 35% crash

Bitcoin still being called a bubble after May’s 35% crash

0
Bitcoin daily chart alert – Bullish chart pattern develops – May 19

Bitcoin daily chart alert - Bullish chart pattern develops - May 19

0
Calvin Ayre Invests in True Reviews: A New Take on Consumer Review Sites Built on the

Calvin Ayre Invests in True Reviews: A New Take on Consumer Review Sites Built on the

0
J.K. Rowling Twitter Storm shows the Crypto Ecosystem Needs to Mature – CityAM

J.K. Rowling Twitter Storm shows the Crypto Ecosystem Needs to Mature - CityAM

0
Crypto.com’s MCO Visa Cards Are Now Shipping In Europe – Fintech Singapore

Crypto.com’s MCO Visa Cards Are Now Shipping In Europe - Fintech Singapore

0
Elon Musk tried to explain Bitcoin to JK Rowling on Twitter and this happened

Elon Musk tried to explain Bitcoin to JK Rowling on Twitter and this happened

0
Bitcoin still being called a bubble after May’s 35% crash

Bitcoin still being called a bubble after May’s 35% crash

June 16, 2021
Tesla CEO Elon Musk warns Twitter followers about Bitcoin scams: ‘This is not cool.’

Tesla CEO Elon Musk warns Twitter followers about Bitcoin scams: ‘This is not cool.’

June 16, 2021
Bitcoin Cash (BCH) Closes Prior Hour Down -0.06%; 3 Day Up Streak Snapped –

Bitcoin Cash (BCH) Closes Prior Hour Down -0.06%; 3 Day Up Streak Snapped -

June 16, 2021
MicroStrategy CEO Michael Saylor says bitcoin is not the only cryptocurrency that can

Bitcoin isn’t just about prosperous cryptography - Eminetra

June 16, 2021
MicroStrategy CEO Michael Saylor says bitcoin is not the only cryptocurrency that can

MicroStrategy CEO Michael Saylor says bitcoin is not the only cryptocurrency that can

June 16, 2021
Boost for bitcoin as Tanzania government mulls introduction of cryptocurrencies

Boost for bitcoin as Tanzania government mulls introduction of cryptocurrencies

June 16, 2021
  • Contact Us
  • Terms of Use
  • Cookie Privacy Policy
  • Privacy Policy
  • DMCA

© 2020 MarketForBitcoin.com

No Result
View All Result
  • Home
  • Bitcoin
  • Market
  • Cash
  • Price
  • Beginners
  • Gold
  • Private
  • Cryptos
  • Investors
  • Technical
  • Crash
  • Spam
  • Stock
  • Blockchain
  • Videos

© 2020 MarketForBitcoin.com

  • Bitcoin(BTC)$56,605.00-1.12%
  • Bitcoin Cash(BCH)$1,422.397.04%
  • Binance Coin(BNB)$657.52-0.15%
  • Bitcoin Gold(BTG)$117.79-3.40%
  • Bitcoin Private(BTCP)$2.04-10.21%
  • Blocktix(TIX)$0.0120.00%