IRS Asking for Another John Doe Summons in sFOX Probe
Income brackets audited by the IRS
On August 15, 2022, a court in the Central District of California authorized the Internal Revenue Service’s John Doe summons against the cryptocurrency prime dealer sFOX. The court found that it was likely that sFOX users might not be in compliance with tax laws (underpaying taxes). The IRS is searching for information on U.S. taxpayers who have conducted transactions totaling $20,000 on the platform.
In a concurrent petition filed in the Southern District of New York, the IRS is asking the court to authorize another John Doe summons against M.Y. Safra Bank, FSB (M.Y. Safra). In 2019, the bank partnered with sFOX to provide cash deposit accounts to registered sFOX users.
Where the IRS audits v. poverty levels
“The John Doe summons remains a highly valuable enforcement tool that the U.S. government will use again and again to catch tax cheats and this is yet one more example of that,” IRS Commissioner Chuck Rettig said.
Previously: Court Authorizes IRS Fishing Trip Against Crypto Prime Dealer
Here is a Monero-related PNG dump (they are all jpgs): Monero pngs
Comments (10)
DNL2022-08-20c95ba060
I see it more as the entire political class sold us out long ago. There is not an elected Republican that has my interests in mind. Just the opposite really. With a few exceptions (maybe?), I think both parties serve the same master and neither serve the American public. Of course Jim Brandon sucks lmao but that seems like a distraction.
:)2022-08-21892e0400
The level headed and wise dnl, not a fan of the dems or repubs myself either, nor will I resort to choosing the “better” of the two, while I agree with dnl, none of them have our personal interests in mind, unless perhaps you’re a terr___. Financially, a person doesn’t really exist until they borrow some money and start turning up on credit reports, the feds do you a solid and give you an SN and a little piece of paper that says you were born for their own bureaucratic purposes. Politicians in my opinion are just like most people, focused mainly on themselves, in their circumstance; political legacy, financial gain and power. Everyone likes a bit of cash to spend but ya man life can be good just be smart and ignore the politics and fuck them out of every dollar you “legally” can : )
Hahaha2022-09-27c0f0a2e0
Hey dnl just wanted to post that Edward Snowden got Russian citizenship and it only cost him a few hundred dollars a month hahaha ✌🏿
GDS2022-09-2799c69d20
and when you toss and turn at night about outdated Linux distros that have fallen far behind even… iPhones and windows, one must seeketh thy ***faith*** in the power of virtualization qubes offers for free, I mean, run those fucking updates too right? ***sudo dnf upgrade***, haha no actually you have to use the qubes “updater…” it’s kind of bullshit too though hahaha ***god damn security***
Expenses2022-08-206ac75c60
I agree with the green donut diagram under the consideration that the median income for U.S. households in 2020 was $67,521, it’s not necessarily that the IRS targets this particular tax bracket, it’s just dudes running around with millions breaking tax laws are a lot harder to come by, are likely educated and aware of IRS risks and when the going gets tough they whip out the billfold and hire top notch corporate lawyer to help the IRS “reconsider” their intentions. Trump is basically a habitual tax felon that is extremely difficult to catch. Meanwhile waiters catch tax charges for not claiming their tips. It is indeed a fucked up system but somebody has got to pay those taxes, why not pick the pockets of the poor and vulnerable, what can they do about it? Fucking bastards letting those corporate mother fuckers like Trump get away with it at the average persons expense.
DNL2022-08-209bb1d7e0
@e55ba1fa Yeah even if it is not intentionally targeting poors or another demographic I think it is indirectly targeting them because they don't have an army of lawyers ready to fight the IRS etc. Which you said.
DNL2022-08-20956dec00
Plus the wealthy seem more likely to be able to take advantage of the tax evasion methods included in the tax codes whereas the working class seem more likely to under pay or under report.
a23e4562022-08-20624c2b70
Dems fucked us over, again.