[flyXwire]

Notice of IRS Summons

Dear *My Name*,

PayPal has received a summons from the United States Internal Revenue Service requiring us to produce various account records, including data related to your PayPal account. PayPal understands the summons relates to the IRS' offshore compliance program in which the IRS has sought information about offshore credit card accounts from a number of companies.
Your privacy is extremely important to PayPal. PayPal is obligated, however, to turn over the requested data. PayPal has been ordered by the United States District Court for the Northern District of California to provide the information to the IRS, and PayPal expects to begin providing this information to the IRS on January 10, 2008. The summons and court order both issue from the United States District Court in an action entitled: In The Matters of the Tax Liabilities of John Does, Case No. CV-05-04176-JW.
If you have any concerns about the disclosure of this information, you should consult with your tax or legal advisor. You may have rights in connection with the summons, including the right to seek to prevent the IRS from obtaining some or all of the information. The statute of limitations that limits the time in which the IRS may assert tax liabilities against you may be suspended beginning on the date which is six months after the IRS served the summons upon PayPal and continuing until PayPal finally resolves its response to the IRS. See 26 U.S.C. § 7609(e)(2).
PayPal cannot provide you with legal advice. If you have questions concerning the summons and court order, we encourage you to contact the IRS, your tax advisor and/or your attorney.
If you wish to contact the Internal Revenue Service regarding this matter, they can be reached at (215) 516-4777.

Thank You,
The PayPal Legal Team

[PappyB]

Well, looks like the party's over...

[Cruver Collecter]

Looks like things will be going back to checks and money orders.

[Black 6]

I don't take it to involve every PayPal user, just those meeting certain criteria as stated on Snopes.com : PayPal Notice

[JustPlaneNuttz]

I've avoided PayPal like the plague, due to their unsecure methods of holding on to ones financial information. They've been hacked far too many times for my likings.

JPN

[flyXwire]

Originally Posted by Black 6

I don't take it to involve every PayPal user, just those meeting certain criteria as stated on Snopes.com : PayPal Notice

That's very reassuring, B6...thanks for the Snopes.com link, buddy!

[Folgore]

Hey, JPN -- nice avatar!



Can you rotate it with pics of Joe Strummer and Henry Rollins?

[JustPlaneNuttz]

Originally Posted by Folgore

Hey, JPN -- nice avatar!



Can you rotate it with pics of Joe Strummer and Henry Rollins?

Well-y, well-y -- someone noticed! Thanx -- it's 'Skunky-inspired'. Maybe I'll find a pic of Sid somewhere.

JPN

[Rush104]

Just remember- the IRS won't be checking every account. It's just too much work. They are civil service, after all...

[KG_Jag]

The IRS has long been able to summons information and documents from third parties. This is often done by say--a revenue agent who is auditing someone, especially when that person is not cooperative in providing information and records. Paypal is just another third party record keeper--like a bank--who does business with the taxpayer. I don't see much new here.