http://cnnwire.blogs.cnn.com/…

The Internal Revenue Service is taking the unprecedented step of seeking Swiss bank records in search of what it suspects could be up to $20 billion worth of assets hidden by U.S. taxpayers.

Justice Department lawyers said late Monday that they had filed court documents in Miami asking a judge to allow the IRS to get information from the banking giant UBS. U.S. investigators are seeking permission for the first time to serve what are called “John Doe” summons to obtain information about possible tax fraud against taxpayers whose identities are not known.

Information stemming from a guilty plea by a former UBS banker last week in Miami suggests the Zurich-based bank had “undeclared” accounts of U.S. taxpayers estimated at about $20 billion. U.S. tax laws require any accounts abroad worth more than $10,000 to be reported — and penalties call for up to half of the amount in a hidden account to be forfeited.

The U.S. government is trying to cooperate with the Swiss government and the bank, Deputy Assistant Attorney General John DiCicco said. But he added, “We are prepared to seek enforcement if that process is not successful.”

Enforcement? What the hell does that mean? World court or troops? It’s sad the latter is the first I think of.