
11-20-11 Forbes: IRS Collection Procedures
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Indian/Americans are Targeted by IRS for Offshore Accounts
In April the Justice Department filed a lawsuit that sought to force HSBC India to reveal the names of U.S. customers with secret accounts, and a U. S. District subsequently granted the IRS authority to issue John Doe Summons for the names of U. S. residents of Indian descent who have had NRE accounts (Non-resident External Rupee Accounts) at the bank.

U.S. Taxpayers With Secret Offshore Money Face New Risks And Options
Taxpayers with offshore bank accounts might be in trouble. The Foreign Account Tax Compliance Act…