The Law: Other Decisions

> The court also decided, 7-2, that the IRS may require banks to disclose depositors' names and other records when the taxmen have reason to be suspicious of large deposits or transactions. The decision, said worried Dissenters Potter Stewart and William O. Douglas, could let the IRS go off on "shot-in-the-dark" hunting expeditions. Speaking for the majority, Chief Justice Warren Burger conceded the problem but insisted that courts could deal with it by keeping careful limits on the IRS power. After all. Burger added, many taxpayers innocently "hide large amounts of currency in...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!