Coinbase: don’t forget to inform the customer to pay income tax bitcoin

Coinbase: don’t forget to inform the customer to pay income tax bitcoin


Transaction and wallet service provider Coinbase seems to take early measures to remind customers to fulfill tax obligations.

In December 31st last year the United States tax after the end of the year, the company’s users are now faced with a desktop information located in the top of the banner, saying “please remember to pay your taxes, and links to tax the latest update the site FAQ page.

FAQ Coinbase pointed out, “to provide legal or tax advice can not, but have links to the IRS (IRS) on how to report and pay guidelines on crypto currency transaction tax. The user can also see a similar banner.

It added that the user can refer to their account transaction records to calculate their gains and losses. The “FAQ” pointed out that Coinbase further provides the “tax cost base” report (currently in beta) to help.

It is worth noting that in the Coinbase and IRS (IRS) shortly after the tax authorities require thousands of records of customers request to the lengthy court proceedings, the company can improve the user awareness of tax liability.

At the end of November the San Francisco District Court ruled that Coinbase must surrender in the period from 2013 to 2015 to buy, sell, send or receive the amount of $20 thousand or more of the user account.

Since November 2016, a user record controversy has continued, the IRS (IRS) initially requested 480000 customer accounts, the number in the final ruling was reduced to more than 14000, the Coinbase claimed that the case was a “partial victory”.

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