Coinbase Loses: Ordered To Report 14,355 Users To The IRS

And the hits just keep on comin' for Bitcoin. Apparently, some folks are not being very forthright with the IRS when it comes to their Bitcoin trading habits where "not being forthright" means not reporting possible profits derived as a result of that trading. Imagine that, right? In order to remedy this situation, the IRS served a summons on Coinbase seeking records on almost all of the company's customers for the 2013-2015 period.   Specifically, only "800-900" taxpayers "electronica

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2 thoughts on “Coinbase Loses: Ordered To Report 14,355 Users To The IRS

    1. Only when you sell them and book very real profits. It’ll be interesting when bitcoin implodes: anyone who knows what they are doing will claim the capital losses – including, probably, a fair number of people who never bought a bitcoin – and the IRS will probably need to audit many of them.

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