Tag Archive: IRS Shuts Down Another High-Profile Asset Forfeiture Case

IRS Shuts Down Another High-Profile Asset Forfeiture Case

IRS Shuts Down Another High-Profile Asset Forfeiture Case, Gives $447,000 Back To Its Rightful Owners Thanks to our nation’s tax laws and liberal asset forfeiture programs, the IRS can seize funds from a bank account if it believes the account holder is attempting to bypass income reporting requirements by making deposits under the arbitrary $10,000 cutoff. The IRS doesn’t need to obtain evidence of wrongdoing or even ever press charges against the account holders. It just takes the money, and it’s up to those whose accounts have been emptied to prove that they weren’t “structuring” their deposits. Recently, it dismissed… View Article