Thursday, April 13, 2006

PayPal Told to Provide Transaction Info to IRS

A federal court in San Jose, CA ruled that the IRS could force PayPal, a major Internet money transfer service and heavily used by eBay customers, to turn over transaction records on customers who might be evading taxes. Eileen O' Conner of the Department of Justice indicated that a major goal in getting access to PayPal was to determine whether customers were underreporting income. Special emphasis was on customers which also had accounts in "tax haven" countries.


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