Tag Archives: United States

Canada’s TD Bank Wants US Patent

The Canadian parent conglomeration of the 9th largest bank in the United States, Toronto-Dominion Bank, has had a blockchain patent submitted to the US patent office since September of 2016. The patent covers a “virtual draft system and method” and includes the words “block chain” in such combination exactly 10 times. Continue reading Canada’s TD Bank Wants US Patent

Dont Panic If Coinbase is Turning Over Your Info to the IRS

Coinbase recently notified approximately 13,000 of its customers that it was turning their information over to the United States. Coinbase has told those affected that it would be providing their taxpayer ID (social security number), name, birth date, address and transaction records from 2013-2015 to the Internal Revenue Service (IRS), by March 16, 2018. So what should you do if you received one of these letters? Coinbase advises recipients to contact a tax attorney. Sounds good, but also pretty boring. If you’re feeling up to it, you might also consider first, panicking, and then employing one of a number of “creative” approaches designed to make the problem go away entirely. It’s also important to remember that IRS employees are people too. Now, that doesn’t mean you have to love them or want them to succeed in collecting the most taxes they can. But it should mean that you think of how to approach them strategically, given that they are human and can be expected to have certain normal human responses.

Reference: https://cointelegraph.com/news/how-not-to-panic-if-coinbase-is-turning-over-your-info-to-the-irs-expert-take