What form would the IRS require it to be filed as? I don't know of any industry/company that is required to file a monthly/daily 1099 for customers. Even the banks are only required to file that stuff yearly via a Schedule D.
Oops, you are right, I totally read that too fast and didn't catch the allegation of "full" transaction history being provided "daily" for all users. That seems like way more detail than the IRS or FinCEN needs...even the FBI is likely more targeted than that.
Also, I should note I am no expert on this topic, I just think people would be very foolish to cheat on their taxes or commit financial crimes via Coinbase or any very large exchange. One should assume government prosecutors or tax collectors can and do access it just as easily as with the regular banking infrastructure (to whatever extent that is), even if they don't actually do so yet.
berberous|12 years ago
Also, I should note I am no expert on this topic, I just think people would be very foolish to cheat on their taxes or commit financial crimes via Coinbase or any very large exchange. One should assume government prosecutors or tax collectors can and do access it just as easily as with the regular banking infrastructure (to whatever extent that is), even if they don't actually do so yet.