Got bitcoin? If so, you might want to read this blog post.

We note on our criminal defense website at The Law Office of John W. Noonan in Dublin the many enforcement probes these days of government investigators focused on alleged white collar criminal activity.

That realm comprises a broad universe. And it centrally includes a fraud component that regulators are especially interested in, namely, tax evasion.

Where that is concerned, the acronym linked with one specific agency comes quickly to mind for many people.

That is of course the IRS. That entity is at once one of the most feared and cloaked-in-power federal bodies that American citizens interact with.

It is no overstatement to note that the agency feels well entitled to announce its authority and take strong legal actions whenever it suspects criminal wrongdoing regarding the reporting and payment of taxes.

A recent matter involving what is termed “cryptocurrency” and bitcoins readily bears that out. The IRS is seemingly focused like a laser on a currency dealer called Coinbase, through which it alleges some consumers transact in a manner that shields tax-related information the agency needs to see.

The IRS always responds forcefully to any such activity. With Coinbase, it sued, demanding a broad release of customer data covering a multi-year period.

Coinbase has thus far resisted, terming the IRS effort to secure what it regards as private data “a massive fishing expedition.”

The matter continues to play out, although its ultimate conclusion seems to be tilting a certain way, namely, toward a pro-IRS outcome. The federal judge overseeing the case recently cited the “tremendous discretion” of the agency in investigatory matters.

When it comes to IRS demands focused upon tax reporting and payments, the agency proceeds with unquestionably strong authority and an expectation of compliance.

Of course, no American governmental agency has unbridled power. In cases where that notion needs to be tested, a white collar criminal suspect might reasonably want to secure the timely and aggressive assistance of a proven criminal defense attorney to firmly establish the point.

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