The Internal Revenue Service (IRS) has obtained a “court order authorizing summons for records relating to U.S. taxpayers who failed to report and pay taxes on cryptocurrency transactions.” The IRS commissioner commented: “The government’s ability to obtain third-party information on those failing to report their gains from digital assets remains a critical tool in catching tax cheats.” IRS Seeks Crypto Investors’ Records From Bank The U.S. Department of Justice (DOJ) announced Thursday that the Internal Revenue Service (IRS) has obtained a “court order authorizing summons for records relating to U.S. taxpayers who failed to report and pay taxes on cryptocurrency transactions.” U.S. District Judge Paul G. Gardephe entered an order on Sept. 22 “authorizing the IRS to issue a so-called John Doe summons requiring M.Y. Safra Bank to produce information about U.S. taxpayers who may have failed to report to the IRS, and pay taxes on, cryptocurrency transactions,” the DOJ detailed, noting
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