News & Analysis as of

Summons

Coinbase Accountholders Notified

by Moskowitz LLP on

We recently blogged about a federal court judge ordering Coinbase to release information about certain Coinbase accountholders. On February 23, 2018, Coinbase sent messages to approximately 13,000 of its customers, informing...more

Coinbase Notifies 13,000 Of Its Customers Of Upcoming Data Release To Internal Revenue Service

by Fox Rothschild LLP on

On Friday, Coinbase, the largest U.S.-based Bitcoin exchange, notified approximately 13,000 of its customers that it would be turning over their account information to the Internal Revenue Service within 21 days. This...more

Court Rules that Coinbase Accounts Must Be Reported to the IRS

by Moskowitz LLP on

Last year the IRS issued a “John Doe” summons on all U.S. Coinbase customers who had used convertible virtual currency between 2013 and 2015. Coinbase’s challenge to the summons has failed in part and succeeded in part – a...more

Internet Gambling, Cryptocurrency and IRS Enforcement

by Sanford Millar on

Could Internet Gambling Sites be one of their targets? There are numerous on-line interactive casinos that accept cryptocurrency as a medium of funding player accounts. The use of cryptocurrency presents a new enforcement...more

[Webinar] Lender Policies and Procedures for Subpoenas, Summons and Third-Party Demand Requests - February 13th, 12:00pm CT

by Thompson Coburn LLP on

Lenders and financial institutions are regularly hit with legal orders, whether through a subpoena, summons, garnishment, or third-party demand for records. These requests come fast and furious, and often lenders are 'damned...more

U.S. v. Coinbase: Virtual Currency Holders Not Outside the IRS’s Reach

by Dechert LLP on

The U.S. District Court for the Northern District of California, on November 28, 2017, ordered the international digital currency broker, Coinbase, Inc., to produce to the Internal Revenue Service (IRS) the records of...more

Court Enforces — Partially — IRS “John Doe” Summons Served on Virtual Currency Exchanger

by Ballard Spahr LLP on

Last week, a federal magistrate judge in the Northern District of California granted in part and denied in part a motion by the IRS to enforce a “John Doe” summons served on Coinbase, Inc., which operates a virtual currency...more

U.S. Court Orders Coinbase to Share Information about Account Holders with the IRS but Limits to Transactions over $20,000

A U.S. federal district court judge on Tuesday, November 29 ordered Coinbase Inc., the largest cryptocurrency exchange and storage platform in the world, to provide information about certain of its account holders to the U.S....more

Coinbase to turn over information to IRS. What does it mean for the bitcoin day trader?

by Sanford Millar on

On December 6, 2016 the Department of Justice (DOJ) served a “John Doe” summons to Coinbase, a San Francisco based exchange of cryptocurrency, to produce records of accounts held by U.S. taxpayers for the period of 2013...more

Coinbase Ordered To Turn Over Bitcoin Trading Records Of Over 14,000 Customers To Internal Revenue Service

by Fox Rothschild LLP on

The Internal Revenue Service has prevailed in its long-running dispute with Coinbase, the largest U.S.-based Bitcoin exchange, with a federal judge ordering Coinbase to comply with a “John Doe” summons seeking customer...more

What would happen to the value of cryptocurrencies if Exchanges had to Issue a Form 1099 on an annual basis?

by Sanford Millar on

The IRS issued a John DOE Summons for records of U.S. account holders of Coinbase, Inc. (“Coinbase”) a cryptocurrency exchange based in San Francisco, California. Coinbase objected to production of the records and a Summons...more

Help! I am a residential landlord and I received a rent escrow action summons in the mail

by Hellmuth & Johnson PLLC on

If you are a landlord of residential rental property in the state of Minnesota, you may be subject to a rent escrow action to remedy alleged “violation(s)” at your property....more

Alabama Employers Take Note – Birmingham Joins Ranks of Cities with an Anti-Discrimination Ordinance

Last month, the Birmingham City Council passed an ordinance criminalizing discrimination in education, housing, employment, and public accommodations. The ordinance not only prohibits discrimination based on the federally...more

Treasury To Repeal/Revise 8 Burdensome Regs

As previously discussed, the IRS and Treasury identified in July eight Obama era tax regulations that are burdensome on taxpayers. The next step for Treasury was to determine what to do with these regulations, and today we...more

Don’t Forget To Calendar Your Deadlines – Especially The Statutory Ones!

by Farrell Fritz, P.C. on

If you commence an action by way of summons with notice, you must bear in mind the strict time limitations imposed by CPLR 3012(b). When the other party timely serves a written demand for a complaint, you have exactly twenty...more

Challenge and Counter-Proposal

by Moskowitz LLP on

In Part I, we outlined the scope of the November 2016 summons served on Coinbase to identify its users and their transaction activity and the IRS’ justification for requesting this data under 26 U.S. Code § 7602. Section 7602...more

The Summons

by Moskowitz LLP on

Coinbase is a San Francisco-based cryptocurrency exchange company that operates bitcoin and other digital asset transactions and storage for over one million users in 190 countries....more

The Trump Administration Retweets and Retreats

by Jackson Walker on

Perhaps now more than ever before, Twitter takes center stage for social and public discourse. Many have wryly commented that we elected a “Tweeter-in-Chief” with President Trump, due to his prolific tweeting about...more

Debit cards, Offshore Funds and a John Doe Summons

by Foodman CPAs & Advisors on

IRS remains committed to its priority efforts to stop offshore tax evasion wherever it occurs. It pursues cases in all jurisdictions of the world. Over the years, numerous individuals have been identified as evading US...more

The IRS and the Controlled Substance Act

by Garvey Schubert Barer on

Two recent District Court cases, High Desert Relief, Inc. v. United States of America and Alpenglow Botanicals, LLC et. al. v. United States of America have raised a novel issue in the IRS’s audits of cannabis businesses....more

Misstated Summons Did Not Create FDCPA Violation

A summons which stated the consumer had thirty days to answer a debt collection suit did not violate the FDCPA when the state rules of civil procedure only provided for twenty days. In Bryant v. Kass Shuler, P.A., the...more

The Tax Man Cometh For Bitcoin - NC Privacy Blog Talks To Digital Assets Tax Policy Coalition Counsel Cameron Arterton

by Poyner Spruill LLP on

A federal judge recently ruled that America’s largest Bitcoin service was obligated to provide the Internal Revenue Service with extensive transactional records concerning the financial transactions of its members. The...more

IRS Files Petition to Enforce Summons Issued to Virtual Currency Company

The Internal Revenue Service (IRS) obtained authorization from a California federal court last November to serve a John Doe summons on the virtual currency firm Coinbase in order to obtain customer information to determine...more

2016 Year End Review: Virtual Currency: DOJ and IRS Broadly Seek Virtual Currency Account User Information

by Ballard Spahr LLP on

Under Internal Revenue Code section 7609(f), the IRS may issue a “John Doe” administrative summons to discover the identities of unknown taxpayers. A “John Doe” summons can be a powerful enforcement tool because it allows the...more

U.S. Department of Justice Obtains Court Order Authorizing IRS to Investigate Bitcoin Users

by Ropes & Gray LLP on

Using the same procedure it used to crack the secrecy of Swiss Banks, on November 30, 2016, the U.S. Department of Justice obtained a court order allowing the IRS to issue a “John Doe” summons to Coinbase Inc., the largest...more

58 Results
|
View per page
Page: of 3
Cybersecurity

"My best business intelligence,
in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
Sign up using*

Already signed up? Log in here

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.