IRS summons for Coinbase records challenged

Three Republicans on U.S. congressional tax-writing committees have written to the IRS commissioner about the IRS’s issuance of a John Doe summons to Coinbase Inc. for records on an estimated 500,000 active U.S. customers who used digital currency from 2013 through 2015. They said the IRS didn’t provide a “reasonable basis” for the belief inherent in the summons that the individuals failed to comply with tax laws, and the demand will produce “millions of pages” of records with personally identifiable information.