LOCATIONS
HOUSTON
16225 Park Ten Place, Suite 500
Houston, TX 77084
Century City
10100 Santa Monica Blvd., Suite 300 
Century City, CA, 90067
CHICAGO
30 S. Wacker Drive, 22nd Floor
Chicago, IL 60606
NEW YORK
590 Madison Avenue, 21st Floor
Manhattan, NY 10022
SHERMAN OAKS
15233 Ventura Blvd Suite 500 
Sherman Oaks, CA 91403
VIRGINIA
999 Waterside Drive, Suite 2600
Norfolk, Virginia, 23510
  • RSS Social Icon
  • Facebook Social Icon
  • Yelp Social Icon
  • LinkedIn Social Icon
  • Twitter Social Icon

© 2018 Optimum Wealth Management   Privacy Policy    Terms of Service

“The tax resolution companies reference herein are not law firms nor are such representations being made. While they may employ attorneys, CPA’s and enrolled agents pursuant to IRS Regulation Circular 230, the use of the term ‘Tax Attorney’ is used as a general or generic term referencing attorneys seasoned in aspects of tax relief and collection work. They may or may not have a specialized degree in taxation or be individually licensed in your particular state.”

Coinbase tells 13,000 users their data will be sent to the IRS soon

February 28, 2018

 

Coinbase told its customers on Friday that it plans to comply with a court order and hand over about 13,000 customers’ data to the IRS within 21 days. The IRS made the request back in November 2016, asking for the Coinbase records of all the people who bought bitcoin from 2013 to 2015 to seek out those who were evading cryptocurrency taxes. Anyone affected by the order should now have received an email from Coinbase to that effect.

 

Coinbase heavily resisted the summons. But ultimately, in November last year, the San Francisco court ruled Coinbase had to turn over identifying records for all users who have completed transactions of more than $20,000 through their accounts in a single year between 2013 and 2015. The data requested includes taxpayer IDs, names, dates of birth, addresses, and transaction records from that period.

 

In an email and on its website on Friday, Coinbase noted that it had tried: “Coinbase fought this summons in court in an effort to protect its customers, and the industry as a whole, from unwarranted intrusions from the government.”

 

It informed its 13,000 affected customers that the “court order requires us to produce information specific to your account,” but that the company could not provide legal or tax advice. So far, 2018 is shaping up to be the year that tax collectors get serious about bitcoin earnings, meaning that it’s a good time to be extra careful about compliance.

Please reload

BBB-A-Rating.png