In Bloomberg Law, Attorneys Discuss How Crypto Customers are Challenging IRS John Doe Summonses

In The News
November 17, 2022

A recent challenge by a taxpayer to the Internal Revenue Service’s seizure of the taxpayer’s cryptocurrency records can proceed in the face of an IRS motion to dismiss, based on a new federal appeals court decision.

A Bloomberg Law article explains that a novel legal theory may be a promising avenue to pursue for those whose personal financial information is sought or obtained by the IRS from a virtual currency exchange and may also prove to be a useful strategy for the exchanges themselves to resist John Doe summonses.

The article was co-authored by litigation & enforcement partner Helen Gugel and tax & benefits partner Loretta Richard.