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IRS Summons Users Who Fail to Report and Pay Tax on Crypto Transactions

With the growth of the crypto community and as trading volumes reach new heights, the United States is also doing more to ensure that its Internal Revenue Service (IRS) can properly collect cryptocurrency tax.

U.S. Attorney Damian Williams, Assistant Deputy Attorney General David Hubbert, and IRS Commissioner Charles Rettig announcement that US Judge Paul Gardephe authorized the IRS to issue a “John Doe subpoena”, a term used when the IRS investigates unknown taxpayers.