According to documents filed with the government's petition, on January 26, a grand jury in
The U.S. government further alleges that, according to HSBC's website, in 2002 HSBC India opened a "representative office" at an HSBC USA office in New York City to enable "Non-Resident Indians" (NRIs) living in the United States to open accounts in India. In 2007, HSBC
According to the petition documents, NRI clients have told IRS investigators that NRI representatives in the United States assured the clients that they could invest in accounts at HSBC India without paying U.S. income tax on interest earned on the accounts and that HSBC would not report the income earned on the HSBC India accounts to the IRS.
Douglas Shulman added that the IRS continues to focus its attention on international tax evasion. "This summons request is focused on obtaining more information to help us determine if additional actions are needed. As I've said all along, our international efforts are not about just one country or one bank - it's about our wider effort to ensure compliance with the nation's tax laws."
Federal law requires
In August 2009, agreed to give American authorities the names of nearly 4,500