How Coinbase lets the IRS know about your crypto taxes

So, I found this article that talks about how Coinbase handles reporting to the IRS when it comes to taxes on crypto. Basically, they do share info with the IRS, and it’s important for us to know what that means for our tax obligations. If you’re trading or holding crypto on Coinbase, you might wanna check this out to understand how it affects you. It’s all about staying compliant and making sure you file correctly.

It's a known matter! Coinbase made this clear in late 2018 itself that they will report the necessary information to IRS. Coinbase had created a dedicated tax resource center to help its clients to prepare for the tax season! You can access it from the below link, https://help.coinbase.com/en/coinbase/taxes-reports-and-financial-services/taxes/coinbase-tax-resource-center.html?b_id=13521 They also have partnered with TurboTax to provide tax service to its clients at a discounted rate. You have to understand that, Coinbase is a legal business entity in US. So they are bound to comply with the tax rules and its amendments. There's no way out!