The largest American cryptocurrency company Coinbase sent about 13,000 of its customers official notification that information about them will be sent to the US internal revenue (IRS).
In July 2017, the IRS addressed a demand to Coinbase to convey more information about each of its more than 500,000 users trying to find information on those who are hiding from taxes. However, the result of the trial, this number decreased to 14.000 users who frequently Transact. And now the platform informs about 13.000 users. The company believes that it is incomplete, but still a victory.
On Friday, Coinbase announced approximately 13.000 customers that within 21 days they will provide the IRS the following information: taxpayer identification number, name, date of birth, address, and transaction history from 2013 to 2015.
In the letter, the company recommends that customers, if they have any questions or they disagree with a decision, we turn to the lawyers immediately.
Litigation between Coinbase and the US government began in November 2016, when the IRS filed a lawsuit against “John DOE” (the claim of the unknown defendants) in the circuit court of the United States in the Northern district of California.
February 13, American financial services Credit Karma said that only 0.04 per cent of their customers reported the income associated with the cryptocurrency in their tax returns.