Financial Services
Circle Internet Financial, LLC
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Important information
- Pending Government Action:Government Action: BBB reports on known government actions involving business’ marketplace conduct:The United States of America Department of Justice Vs. Circle Internet Financial, LLC
The following describes a pending government action that has been formally brought by a government agency but has not yet been resolved. We are providing a summary of the governments allegations, which have not yet been proven.
A federal court in the District of Massachusetts entered an order today authorizing the IRS to serve a John Doe summons on Circle Internet Financial Inc., or its predecessors, subsidiaries, divisions, and affiliates, including Poloniex LLC (collectively “Circle”), seeking information about U.S. taxpayers who conducted at least the equivalent of $20,000 in transactions in cryptocurrency during the years 2016 to 2020. The IRS is seeking the records of Americans who engaged in business with or through Circle, a digital currency exchanger headquartered in Boston.“Those who transact with cryptocurrency must meet their tax obligations like any other taxpayer,” said Acting Assistant Attorney General David A. Hubbert of the Justice Department’s Tax Division. “The Department of Justice will continue to work with the IRS to ensure that cryptocurrency owners are paying their fair share of taxes.”“Tools like the John Doe summons authorized today send the clear message to U.S. taxpayers that the IRS is working to ensure that they are fully compliant in their use of virtual currency,” said IRS Commissioner Chuck Rettig. “The John Doe summons is a step to enable the IRS to uncover those who are failing to properly report their virtual currency transactions. We will enforce the law where we find systemic noncompliance or fraud.”
About This Business
Products and Services
Business Details
- BBB File Opened:
- 10/28/2014
- Business Started:
- 8/12/2013
- Business Started Locally:
- 8/28/2013
- Business Incorporated:
- 8/12/2013
- Type of Entity:
- Corporation
- Alternate Names:
- Circle Pay
- Business Management:
- Fernanda Medina, Director of Compliance
- Number of Employees:
- 115
Additional Contact Information
- Customer Contacts
- Fernanda Medina, Director of Compliance
- Additional Phone Numbers
- Other Phone: (617) 326-8326
- Additional Email Addresses
- Primary: Email this Business
Additional Information
- Business Categories
- Financial Services
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