US Government goes after taxable income in offshore banks

tax       2003-03-13 
The government for the first time Thursday targeted individuals suspected of using credit and debit cards issued by offshore banks to hide income from U.S. tax collectors.
The Justice Department and Internal Revenue Service filed petitions in federal court seeking records from MasterCard accounts at the Leadenhall Bank & Trust in Nassau, Bahamas. The actions were taken because the 10 individuals involved refused to produce records sought by earlier court summonses.
The IRS already has obtained thousands of Visa, MasterCard and American Express records involving accounts at dozens of banks in tax haven countries. But Thursday's move was the first time since the initiative began in October 2000 that individual Americans have been targeted.