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July 1st, 2008

Court OKs IRS Swiss bank request

Posted: 05:52 PM ET

WASHINGTON (CNN) - A federal judge Tuesday approved an unprecedented move by the Internal Revenue Service to seek Swiss bank records in a search for what it suspects could be up to $20 billion worth of assets hidden by U.S. taxpayers.

The order approved by U.S. District Judge Joan Lenard in Miami allows the IRS to get information from the banking giant UBS.

The case marked the first time U.S. government tax attorneys had sought permission to serve what are called "John Doe" summons to obtain information about possible tax fraud by citizens whose identities are not known.
–From CNN Justice Producer Terry Frieden


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