A federal court in the District of Massachusetts authorized the IRS to serve a "John Doe" summons on a Boston-based "digital currency exchanger" seeking information about as yet unidentified U.S. taxpayers who, from 2016 to 2020, conducted at least $20,000 in cryptocurrency transactions.
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A U.S. District Court granted a DOJ and IRS request to uncover the identities of Finnish residents who may be using U.S.-issued payment cards in Finland to avoid reporting income and paying Finnish income tax.
The Internal Revenue Service and the Treasury submitted final and temporary regulations to the Office of the Federal Register regarding requirements related to equity-linked instruments.
The Internal Revenue Service's final regulations on the centralized partnership audit regime were published in the Federal Register.
The IRS proposal amending certain regulations to address the transition from interbank offered rates to other reference rates for debt instruments and non-debt contracts was published in the Federal Register.