Tax Whistleblower Blog

Continuing Update on IRS Targeting of Major Swiss Bank

In a high-profile investigation, a U.S. federal court approved a “John Doe” summons with respect to U.S. taxpayers who may be using accounts in a major Swiss bank to evade federal income taxes.  The efforts of the IRS to identify the U.S. owners of nearly $20 billion of income socked away in the Swiss Bank as part of a tax shelter designed to avoid U.S. taxation was previously reported on the Blog.  It is unknown whether this case stems from referral under the Tax Whistleblower Rewards Program, but if it does, the Whistleblower has the potential to earn a $6 billion reward from the IRS.