WASHINGTON - The Internal Revenue 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 Tuesday.
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The request for information is an outgrowth of an IRS effort, begun several years ago, to trace money that American taxpayers hold offshore to avoid paying taxes. The IRS said many of those taxpayers access their money through credit and debit cards. The tax collectors have already obtained information from some credit card companies, merchants and payment processors.
Well, another reason for the cancellation of my PayPal account. I sure hope the IRS is also actively pursuing corporate money that is held offshore to avoid paying taxes. NOT.
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