05-12-2015, 04:25 PM
It's hard to believe that this can happen, but the IRS can sieze all of the money in your bank account, even if no crime has been committed. Here are two links regarding the same story.
http://www.foxnews.com/politics/2015/05/...ring-laws/
http://dailysignal.com/2015/05/11/the-ir...t-it-back/
Long story short, the IRS along with other agencies of government decided to seize the funds from a small business owner's bank account. The reason? A history of making several deposits of less than $10k. From one of the articles linked above.
Hmm... the owner of a convenience store/gas station making several deposits of under $10,000. That sounds like criminal activity. :unsure:
That sounds more like communism to me. Unfortunately, "innocent until proven guilty" only applies in criminal cases not civil cases. The only "evidence" that the feds have are deposits into a business account. I haven't seen anything where receipts from his business were looked at.
Here is the other shocking thing from the story.
http://www.foxnews.com/politics/2015/05/...ring-laws/
http://dailysignal.com/2015/05/11/the-ir...t-it-back/
Long story short, the IRS along with other agencies of government decided to seize the funds from a small business owner's bank account. The reason? A history of making several deposits of less than $10k. From one of the articles linked above.
Quote:
The IRS agents apparently were suspicious because of deposits McLellan had made of just under $10,000. Banks are required to report transactions over $10,000; making multiple deposits of less than $10,000 to evade that requirement is known as "structuring."
Hmm... the owner of a convenience store/gas station making several deposits of under $10,000. That sounds like criminal activity. :unsure:
Quote:
McLellan is one of many business owners who have been caught up in a controversial federal practice known as civil forfeiture. Under this policy, federal agents have been able to seize the property and bank accounts of anyone they suspect of having criminal ties. The burden of proof falls on the owner even if no charges are filed.
That sounds more like communism to me. Unfortunately, "innocent until proven guilty" only applies in criminal cases not civil cases. The only "evidence" that the feds have are deposits into a business account. I haven't seen anything where receipts from his business were looked at.
Here is the other shocking thing from the story.
Quote:
Civil asset forfeiture is a procedure that allows law enforcement to seize property if it’s suspected of being related to a crime. The practice began decades ago with good intentions.
However, law enforcement agencies have been using civil asset forfeiture to seize property and money for profit.
Quote:Johnson also noted that the IRS frequently teams up with local law enforcement to look through suspicious activity reports. By seizing property and money through the Department of Justice’s Equitable Sharing Program, law enforcement agencies share the proceeds of the forfeiture.