IRS Summons for Virtual Currency Gains Partially Enforced

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The IRS has been granted partial enforcement of a summons served on the virtual currency exchange Coinbase. The original summons sought broad information on U.S. persons who at any time between 1/1/2013 and 12/31/2015 conducted transactions in convertible virtual currency, including complete user profiles, correspondence, account statements, and records of payments. The court narrowed the enforcement to accounts with at least the equivalent of $20,000 in any one transaction type in any year during the period 2013–2015 to produce the taxpayer identification number, name, birth date, address, records of account activity, and account statements or invoices for the relevant period.  Coinbase, Inc.,  120 AFTR 2d 2017-XXXX (DC CA).

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