paypal ordered to disclose information to the IRS is this true? Article enclosed

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Is this true or is it a hoax?

PayPal to begin giving the IRS PayPal users account information

Notice of IRS Summons

Dear *My Name*,

PayPal has received a summons from the United States Internal Revenue Service

requiring us to produce various account records, including data related to your

PayPal account. PayPal understands the summons relates to the IRS' offshore

compliance program in which the IRS has sought information about offshore credit

card accounts from a number of companies. Your privacy is extremely important to

PayPal. PayPal is obligated, however, to turn over the requested data. PayPal

has been ordered by the United States District Court for the Northern District

of California to provide the information to the IRS, and PayPal expects to begin

providing this information to the IRS on January 10, 2008. The summons and court

order both issue from the United States District Court in an action entitled: In

The Matters of the Tax Liabilities of Does, Case No. CV-05-04176-JW.

If you have any concerns about the disclosure of this information, you should

consult with your tax or legal advisor. You may have rights in connection with

the summons, including the right to seek to prevent the IRS from obtaining some

or all of the information. The statute of limitations that limits the time in

which the IRS may assert tax liabilities against you may be suspended beginning

on the date which is six months after the IRS served the summons upon PayPal and

continuing until PayPal finally resolves its response to the IRS. See 26 U.S.C.

§ 7609(e)(2). PayPal cannot provide you with legal advice. If you have

questions concerning the summons and court order, we encourage you to contact

the IRS, your tax advisor and/or your attorney. If you wish to contact the

Internal Revenue Service regarding this matter, they can be reached at (215)

516-4777.

Thank You,

The PayPal Legal Team

Mrs. Rovenea A.

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