A federal judge on January 28 authorized the IRS to issue a John Doe summons to UBS AG to produce account information of U.S. taxpayers banking with Wegelin & Co. through a Connecticut-based correspondent account with UBS. The summons targets a Stamford, Conn., correspondent account with UBS used by Wegelin and at least two other banks, the Justice Department said. That account allowed those foreign banks to "covertly launder U.S. taxpayers' funds from their undeclared accounts in Switzerland," according to a DOJ press release.
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