A federal judge approved the IRS issuing summonses requiring FedEx, DHL, UPS, and a bevy of other handlers to produce information about U.S. taxpayers who used Sovereign Management & Legal Ltd.
for offshore accounts and assets. They include Western Union Financial
Services Inc., the Federal Reserve Bank of New York, Clearing House
Payments Company LLC, and HSBC USA.
The IRS uses John Doe summonses to obtain information when it
searches for tax fraud by individuals whose identities are unknown. This
is a sweeping order,
allowing the IRS to get records from all of these companies. The target
is any U.S. taxpayers who, from 2005 through 2013, used Sovereign’s
services to control foreign accounts or entities. That is likely to be a
long list.
The IRS may face budget cuts, but the hunt for offshore evaders
continues, this time out of a DEA operation. A DEA investigation of
online narcotics trafficking got the IRS on to Sovereign, a company
allegedly helping U.S. clients evade taxes. A taxpayer in the IRS
offshore program (OVDP) reported that Sovereign set up his Panamanian shell, so now Sovereign is in the hot seat.
http://www.forbes.com/sites/robertwood/2014/12/20/irs-issues-john-doe-summons-to-fedex-dhl-ups-hsbc-in-massive-offshore-account-hunt/
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