STEVEN TOSCHER quoted in Forbes article on IRS Cryptocurrency Enforcement
On March 30, the Department of Justice, Tax Division, filed a petition for leave to serve a “John Doe” summons on Payward Ventures, also known as “Kraken,” requesting account information for all United States taxpayers who held accounts there with the equivalent value of $20,000 or more in cryptocurrency for any one year from 2016 through 2020.
What does this mean for Kraken and other Crypto Account Holders?
Steve is quoted saying that, “the Court’s decision is important for a number of reasons. First it tells us something we already know – that the IRS is using all of its tools to investigate tax compliance of those who invest and trade in cryptocurrency. More importantly, it reiterates what the District court held in the Coinbase case – that the “ narrowly tailored” language recently added to the statue has real teeth.”
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