Oops: IRS Forgot To Target the 1%

With the recent bolstering of the IRS and the democratic promises that they want to tax the rich or one-percenters, you’d expect things to start easing up on We The People, right? Well, that seems to be a far cry from reality, but the democrats would never lie to us, would they? They are better than that!

As usual, it is nothing more than poppycock. The IRS is wanting to hire more people to audit – and it will most likely be the middle class who takes the majority of audits, for some reason they are purchasing tons of ammo, along with a laundry list of things that seems suspicious. To add to this already extensive list, the IRS continues its onslaught on pursuing U.S. citizens who neglected to report and pay taxes on cryptocurrency with a new court order permitting a request for customer records.

The organization will issue a so-called “John Doe summons” requiring M.Y. Safra Bank to turn over crypto exchange information for SFOX, a computerized money prime broker that utilized the bank, with more than 175,000 clients and more than $12 billion in exchanges beginning around 2015, as per the U.S. Department of Justice.

It’s not the primary IRS summons for crypto records, yet it’s strange because the broker is by all accounts “quite small,” flagging the chance of more to come, said Andrew Gordon, tax attorney, CPA, and President of Gordon Regulation Gathering in Skokie, Illinois.

“The IRS has indicated this is a very high priority for them,” he added. Read more