Deirdre Farrell

Nov 15, 2023 | jdsupra.com | Deirdre Farrell |Nicholas Mowbray |Carlos Ortiz

Key Takeaways: As robust enforcement of laws against tax abuses related to cryptocurrency continues, a Southern District of New York judge imposes a maximum sentence of four years on a cryptocurrency founder for tax evasion.

Nov 15, 2023 | lexology.com | Carlos Ortiz |Kayley B. Sullivan |Nicholas Mowbray |Deirdre Farrell

Key Takeaways:As robust enforcement of laws against tax abuses related to cryptocurrency continues, a Southern District of New York judge imposes a maximum sentence of four years on a cryptocurrency founder for tax evasion. In their most recent meeting, the Joint Chiefs of Global Tax Enforcement (J5) focus on data mining and financial reports to strengthen agencies’ ability to enforce tax crimes with global implications – leading to more than 50 new leads for international law enforcement.

Jul 18, 2023 | lexology.com | Christina Gotsis |Nicholas Mowbray |Carlos Ortiz |Kayley B. Sullivan |Deirdre Farrell |Elizabeth Smith

Key TakeawaysA court approved the issuance of a John Doe summons by the IRS to major cryptocurrency platform Kraken, aimed at identifying individuals who are potentially avoiding their income tax obligations relating to cryptocurrency transactions. The IRS and other prosecuting agencies have made clear that John Doe summonses are a powerful tool in pursuing virtual currency nonreporting and underreporting.

Jul 17, 2023 | jdsupra.com | Christina Gotsis |Nicholas Mowbray |Deirdre Farrell

Key Takeaways A court approved the issuance of a John Doe summons by the IRS to major cryptocurrency platform Kraken, aimed at identifying individuals who are potentially avoiding their income tax obligations relating to cryptocurrency transactions. The IRS and other prosecuting agencies have made clear that John Doe summonses are a powerful tool in pursuing virtual currency nonreporting and underreporting.