DOJ Tax Seeks John Doe Summons for Stanford Group Investors

The Stanford Group maintain offshore financial accounts for its investors / depositors. It is thus not surprising that DOJ Tax is seeking that information via a John Doe Summons. Here is the press release. More business for the tax enforcers and for the lawyers who assist taxpayers caught up in the mess. According to the preliminary internet chatter, the investors who already feel aggrieved think -- or at least assert -- the Government is piling on.

These taxpayers with offshore Stanford accounts already had the opportunity to join the special voluntary disclosure initiative which ended 10/15/09. This bunch who have lost much or all of their offshore investment (at least those who did not pull out before the end) may truly not have anything left to make the type of payments required under the earlier initiative, much less any more onerous amounts that may be required of late comers.