Alticor Inc.


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    IRS receives permission to serve subpoena on First Data Corp.

    The world's largest processor of credit card payments has been ordered by a United States court to assist the IRS in its investigation into tax evasion using offshore accounts.First Data Corp. must turn over information about transactions by holders of American Express, Visa and MasterCard credit cards that were issued by or on behalf of certain offshore financial institutions.

    IRS tax investigation focuses on Antigua, Bahamas and Cayman

    The investigation by the IRS into alleged offshore tax evasion by United States taxpayers using offshore credit cards appears to be currently focusing on Antigua & Barbuda, the Bahamas, and the Cayman Islands. Although the IRS has previously announced it is targeting more than 30 offshore centers, these three are the only countries to feature in a slew of "John Doe" summonses issued recently by U. S. federal courts.