This week the battle between the U.S. Internal Revenue Service (IRS) and the San Francisco firm Coinbase is heating up once again as a U.S. Magistrate Judge is siding with the tax collector.
U.S. Magistrate Judge: ‘It’s Legitimate for the IRS to Investigate Coinbase Users’
Last Thursday in California the two organizations convened in court to continue the controversial case, the “U.S. v. Coinbase 17-01431.” The recent hearing discussed the proposed IRS tax probe of Coinbase customers who used the platform from 2013-2015. According to multiple news outlets which attended the hearing, the U.S. Magistrate Judge, Jacqueline Scott Corley, has shown she favors the arguments brought forth by the IRS and believes the probe is warranted.
“It’s legitimate for them to investigate whether people are making money on their bitcoin purchases and paying taxes on any gains,” explains Judge Corley…
Read Full: The IRS May Get Approval to Conduct Coinbase Tax Probe
