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Court Rulings Clear Way for ‘John Doe’ Tax Queries at Five U.S. Banks
By Colby Adams
printThe IRS can serve broad summonses to five of the world's largest banks as part of an effort to collect data on American tax evaders, the Southern District of New York said. Under court rulings disclosed Tuesday, the agency can issue so-called "John Doe" summonses to Bank of New York Mellon, Citibank, JPMorgan Chase, HSBC Bank USA and Bank of America, the U.S. Attorney's office said. The data requests would require the banks to identify clients who may have hidden assets in Switzerland-based Zurcher Kantonalbank (ZKB) and Bermuda-based Bank of N.T. Butterfield & Son. The five financial institutions must also...
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