IRS to seek data from PayPal
— reported by the Houston Chronicle
The Internal Revenue Service won approval from a federal court to ask PayPal to turn over information about people who might be evading taxes by hiding income in other countries, officials said today.
A federal court in San Jose, Calif., gave the IRS permission to ask PayPal — a company that enables online money transfers — for account information for American taxpayers who have bank accounts, credit cards or debit cards issued by financial institutions in more than 30 countries reputed to be tax havens.
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