Coin Center sues Treasury and IRS, claims tax-reporting rule unconstitutional
by Mike Millard
JUNE 12, 2022 THE BLOCK
https://www.theblock.co/linked/151515/coin-center-sues-treasury-and-irs-claims-tax-reporting-rule-unconstitutional?utm_source=basicrss&utm_medium=rss
Coin Center, a Washington, DC-based crypto think-tank, on Friday filed a lawsuit in federal district court against the Treasury Department and the Internal Revenue Service claiming a crypto tax-reporting requirement contained in an infrastructure law is unconstitutional, it said in post on its website.
The lawsuit leads by claiming: “In 2021, President Biden and Congress amended a little-known tax reporting mandate. If the amendment is allowed to go into effect, it will impose a mass surveillance regime on ordinary Americans.”
The provision in question from the Infrastructure Investment and Jobs Act passed last summer is the 6050I amendment, which would require individuals and businesses receiving $10,000 or more in crypto to report to the government not only the name of who sent them the funds, but also that person’s date of birth and Social Security number.
It looks like at least Coin Center sees the overreach of government. To give out personal details like SSN and more, what is the point of having CRYPTO?
Stay tuned as this develops .
#TaxesAreVoluntaary
#GrowYourSelf