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Another issue
Since many Americans use their foreign credit cards to save some money in e-commerce this maybe an issue for credit card companies. Some operators like PayPal don't provide particular taxpayer details of the account owner but IRS has easy access to the information to determine the taxpayer status.
Recent IRS action regarding US taxpayers using PayPal accounts, where PayPal provided the information requested by the IRS and connected with US citizens hiding their income in offshore accounts, raises two questions. First, why IRS didn’t issue a third party summons for a named individual or group of individuals but acted under the ‘John Doe’ summons? And a second, what is the right of privacy of taxpayer in this case?
Credit card owners should be aware that once technology gets advanced and cheaper all of the people who used this kind of tax heaven will owe something to IRS.
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