Don Fort was quoted in a recent Wall Street Journal article entitled “First Came the Crypto Crash. Now Comes the Taxman.” published on November 11, 2022.
The article notes:
“The IRS has already used this strategy, called a John Doe summons, to pursue crypto tax cheats with transactions of $20,000 or more at three other exchanges: Coinbase, Kraken and Circle. From these and other efforts, the agency has assessed more than $110 million in tax due on unreported crypto income, with more expected. Penalties and interest could nearly double the total that some taxpayers owe.”
“Future summonses are likely, says Don Fort, a former chief of IRS criminal investigations now with the Kostelanetz law firm: “The IRS and Justice Department have become adept at tailoring requests judges will approve.””
Click here to read the full article.