The Internal Revenue Service is looking for information on bitcoin users from Coinbase, one of the largest bitcoin exchanges in the U.S., as part of its efforts to uncover possible tax evasion.
The IRS sent a broad request known as a John Doe summons to Coinbase last week seeking information on all of the San Francisco-based service’s users, according to The New York Times. The request follows on the heels of a report earlier this month from the Treasury Inspector General for Tax Administration that found the IRS should be doing more to ensure taxpayers aren’t using virtual currencies like bitcoin to avoid taxes (see IRS Warned to Safeguard Against Illegal Use of Virtual Currency).
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