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The IRS wants to know all about your Bitcoin holdings — and this court summons is a reminder – MarketWatch

There’s a problem with under-reporting crypto transactions, the tax collection agency says

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The IRS wants Circle, a Boston-based financial technology company enabling trade in various types of cryptocurrencies, to produce account-registration information, account activity records and other materials for customers who had at least $20,000 in transactions any year from 2016 to 2020.Cryptocurrency has gained prominence and value over the year, but the IRS says tax reporting hasnt kept up.The IRS issued Circle with a summons, which is part of an ongoing investigation by the Internal Revenue…

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