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The Tax Man Is Back: IRS Issues First John Doe Summons in 2022 to Major Crypto Platform, Seeking Treasure Trove of Information on Tax Noncompliance

By Carlos Ortiz, Nicholas C. Mowbray, Christina Gotsis & Kayley Sullivan on August 22, 2022
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After going for more than a year without using one of its most powerful weapons, a John Doe summons, the Internal Revenue Service (IRS) has reverted to the use of this tool in its much-publicized efforts to investigate, find, and prosecute those who fail to report virtual currency transactions and those who facilitate not reporting. This latest filing demonstrates that Operation Hidden Treasure, announced in May 2021 to identify tax evasion among cryptocurrency users, is still going strong. Recent announcements also have made clear that the IRS, along with the Department of Justice (DOJ), is working with other agencies such as the Joint Chiefs of Global Tax Enforcement and other state and federal agencies to curb the abuse of laws using cryptocurrency transactions.

Read the full alert.

Photo of Carlos Ortiz Carlos Ortiz
Read more about Carlos OrtizEmail
Photo of Nicholas C. Mowbray Nicholas C. Mowbray
Read more about Nicholas C. MowbrayEmail
Photo of Christina Gotsis Christina Gotsis
Read more about Christina GotsisEmailChristina's Linkedin Profile
Photo of Kayley Sullivan Kayley Sullivan
Read more about Kayley SullivanEmailKayley's Linkedin Profile
  • Posted in:
    Tax
  • Blog:
    The Blockchain Monitor
  • Organization:
    Baker & Hostetler LLP
  • Article: View Original Source

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