IRS Requests Bitcoin Buyer Records in Broad Tax Evasion Case
Agency wants identities of all U.S. traders from Coinbase exchange.
As first reported by Motherboard, the Internal Revenue Service is seeking the personal data of all U.S. Coinbase users who transacted between 2013 and 2015. In a statement, a Coinbase spokesman said the exchange site was “very concerned with the indiscriminate breadth of the government’s request.”
The subjects of the data request are identified in court documents simply as an indeterminate number of “John Does.” The IRS filing further states that “There is a reasonable basis for believing that such group or class of persons may fail, or may have failed, to comply with one or more provisions of the internal revenue laws.
http://fortune.com/2016/11/20/irs-bitcoin-tax-evasion-case/
According to the report that I just downloaded from Coinbase, I lost about $1.00 in 2014 and just over $4.00 in 2015.(I didn't have an account in 2013.) The IRS can take that info and sit and spin. I feel sorry for the whales though that may have tax headaches coming up.
