The Department of Justice (DoJ) reports that a court granted the IRS permission to serve what are known as ‘John Doe’ summonses on Mellon, Citibank, JP Morgan, HSBC, and Bank of America. It enables the IRS to obtain information on unidentified individuals who might have committed tax fraud. The information then pointed out to the potential wrongdoing of Bank of N.T. Butterfield & Son Limited and its affiliates and Zuercher Kantonalbank and its affiliates.
Assistant Attorney General Keneally said that “These John Doe summonses will provide information about individuals using financial institutions from Switzerland to the Cayman Islands to Hong Kong to avoid their U.S. tax obligations.”