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Tax Notes Quotes Scott Michel: DOJ Seeks John Doe Summons on Largest U.S. Bitcoin Exchanger

November 22, 2016, Tax Notes

In an effort to combat tax evasion, the Justice Department petitioned a district court on November 17th to serve a John Doe summons on bitcoin exchanger Coinbase Inc., seeking records and account holder identities.  Scott D. Michel of Caplin & Drysdale Chtd. offered a word of caution to taxpayers who might be implicated in the summons. "The service of a John Doe summons does not disqualify a taxpayer from making a voluntary disclosure, so anyone who's got a problem here has a short window to take care of it. Once the names are disclosed -- and it's almost certain they will be -- that window will likely close," Michel said.

To read the full article, please visit Tax Notes’ website (subscription required).

Excerpt taken from the article “DOJ Seeks John Doe Summons on Largest U.S. Bitcoin Exchanger” by Andrew Velarde for Tax Notes.

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