01.19.17 | Articles
Tax Enforcement, John Doe Summonses And Digital Currency
New York Law Journal
With the advent of virtual currencies, tax enforcement faces a new threat that has the potential of rendering assets effectively untraceable. In tackling the challenge presented by 21st century financial instruments, the IRS has turned to John Doe summonses, which were an integral part of its offshore banking enforcement program. This article discusses the background of John Doe summonses and their potential use in addressing the financial privacy offered by virtual currencies.
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