How does the IRS gather information about you from third parties?

Posted on June 08, 2012

How does the IRS gather information about you from third parties? In an investigation, the IRS can issue a summons to a third party demanding information about you. The summons can be served upon a bank for your banking records or upon any other third party that holds information about you. The IRS can also serve a summons directly upon you demanding that you turn over information related to its investigation. After a summons is served, the taxpayer can file a motion to quash the summons in the United States District Court. A motion to quash, if granted, will prevent the third party recordkeeper from providing the information to the IRS. If the motion is denied, the third party recordkeeper is obligated to turn the requested information over to the IRS. Are you under investigation by the IRS? Call us, we can help.

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