The Internal Revenue Service (IRS) has obtained court authorization to serve a John Doe summons on cryptocurrency exchange Kraken. The tax agency is seeking data of users with $20,000 or more in cryptocurrency transactions during the years 2016 to 2020.
IRS Wants User Information From Crypto Exchanges
The U.S. Department of Justice (DOJ) announced Wednesday that a federal court in the Northern District of California has authorized the IRS “to serve a John Doe summons on Payward Ventures Inc., and subsidiaries d/b/a Kraken.”
The IRS is “seeking information about U.S. taxpayers who conducted at least the equivalent of $20,000 in transactions in cryptocurrency during the years 2016 to 2020” on Kraken cryptocurrency exchange, the DOJ described.
According to the summons filed:
IRS directed Kraken to produce records identifying the U.S. taxpayers described above, along with other documents relating to their cryptocurrency transactions.
IRS Commissioner Chuck Rettig commented: “This John Doe summons is part of our effort to uncover those who are trying to skirt reporting and avoid paying their fair share.”
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The court document explains that the order seeks information related to the IRS’ “investigation of an ascertainable group or class of persons” that the tax agency has “reasonable basis to believe may have failed to comply with internal revenue laws.”
The IRS has demanded user
