{"id":4702,"date":"2021-05-13T14:08:26","date_gmt":"2021-05-13T18:08:26","guid":{"rendered":"https:\/\/www.technewsday.com\/?p=4702"},"modified":"2021-05-13T14:08:26","modified_gmt":"2021-05-13T18:08:26","slug":"court-orders-irs-to-seek-taxpayers-who-used-cryptocurrency","status":"publish","type":"post","link":"https:\/\/technewsday.com\/staging\/court-orders-irs-to-seek-taxpayers-who-used-cryptocurrency\/","title":{"rendered":"Court Orders IRS To Seek Taxpayers Who Used Cryptocurrency"},"content":{"rendered":"\n<p>The United States Internal Revenue Service (IRS) is currently seeking information about the country&#8217;s taxpayers who conducted transactions worth at least $20,000 in cryptocurrencies between 2016 and 2020.<\/p>\n\n\n\n<p>According to the U.S. Department of Justice on May 5, a federal court in the United States has authorized the IRS to issue a &#8220;John Doe Summons&#8221; for a U.S.-based cryptocurrency exchange and bank in which Kraken searches for the identities of U.S. taxpayers who have used cryptocurrencies.<\/p>\n\n\n\n<p>David Hubbert, the acting assistant attorney general of the Justice Department&#8217;s tax division, explained the reason for the recent court approval in a statement: &#8220;Those who transact with cryptocurrency must meet their tax obligations like any other taxpayer.&#8221;<\/p>\n\n\n<p>For more information, read the <a href=\"https:\/\/www.reuters.com\/world\/us\/us-court-authorizes-irs-seek-identities-taxpayers-who-have-used-cryptocurrency-2021-05-05\/\" target=\"_blank\" rel=\"noopener\">original story<\/a> in Reuters.<\/p>","protected":false},"excerpt":{"rendered":"<p>The United States Internal Revenue Service (IRS) is currently seeking information about the country&#8217;s taxpayers who conducted transactions worth at least $20,000 in cryptocurrencies between 2016 and 2020. According to the U.S. Department of Justice on May 5, a federal court in the United States has authorized the IRS to issue a &#8220;John Doe Summons&#8221; [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[58],"tags":[],"class_list":["post-4702","post","type-post","status-publish","format-standard","hentry","category-government-public-sector"],"acf":[],"_links":{"self":[{"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/posts\/4702","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/comments?post=4702"}],"version-history":[{"count":3,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/posts\/4702\/revisions"}],"predecessor-version":[{"id":5451,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/posts\/4702\/revisions\/5451"}],"wp:attachment":[{"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/media?parent=4702"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/categories?post=4702"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/tags?post=4702"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}