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Bitcoin Currency

July 28, 2020

Coinbase Customer’s Lawsuit Against IRS Reminds Taxpayers of Government’s Interest in Auditing Virtual Currency Traders

Coinbase Customer’s Lawsuit Against IRS Reminds Taxpayers of Government’s Interest in Auditing Virtual Currency Traders A year ago, the IRS sent nearly 10,000 letters relating to […]
June 1, 2020

IRS Asks Tech Companies to Help Bust Virtual Currency Traders

It is no secret that the IRS has their sights set on cryptocurrency compliance and have for a few years. Newly discovered documents are giving taxpayers […]
December 21, 2019

IRS Criminal Investigation Division (IRS-CI) Expanding to Target Crypto Users

The IRS Criminal Investigation Division (IRS-CI), which celebrated its hundredth anniversary this year, recently published the 2019 edition of its annual report on tax crimes, as […]
August 16, 2019

Did You Engage in Unreported Cryptocurrency Transactions? Expect a Letter from the IRS

If you follow our tax blog, you may have seen our recent article discussing whether cryptocurrencies, such as Bitcoin (BTC) and Ethereum (ETH), are reportable for […]
August 9, 2019

FinCEN Update: Bitcoin, Cryptocurrency Not Subject to Foreign Bank Account Reporting (FBAR)

It’s been hailed as the wave of the future, dismissed as a failed experiment, and vilified as an enabler of cybercrime and terrorism. No matter how […]
September 2, 2017

Virtual Currency Update: Large FinCEN Civil Penalty Assessments and an Update Regarding IRS Coinbase Summons

$110m Civil Penalty Levied Against Russian Cryptocurrency Exchanger Last week, the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) announced that they had assessed a civil penalty […]