IRS eyes more offshore banks

| 29/04/2009

(Miami Herald):  The Internal Revenue Service is widening its investigation of offshore private banking beyond UBS to take action against other banks in a bid to force them to identify US taxpayers with undisclosed foreign accounts, according to an IRS agent. Daniel Reeves — a key investigator in the UBS case — made the disclosure during a presentation at the OffshoreAlert Financial Due Diligence Conference in Miami Beach Monday. ”We have identified other offshore banks that promote tax avoidance,” Reeves said. ‘We are developing additional `John Doe’ summonses on some of those banks.”

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