I had no idea. Seems completely wrong to me...
ARNOLDS PARK, Iowa — For almost 40 years, Carole Hinders has dished out Mexican specialties at her modest cash-only restaurant. For just as long, she deposited the earnings at a small bank branch a block away — until last year, when two tax agents knocked on her door and informed her that they had seized her funds, almost $33,000.
The Internal Revenue Service agents did not accuse Ms. Hinders of money laundering or cheating on her taxes — in fact, she has not been charged with any crime. Instead, the money was seized solely because she had deposited less than $10,000 at a time, which they viewed as an attempt to avoid triggering a required government report.
“How can this happen?” Ms. Hinders said in a recent interview. “Who takes your money before they prove that you’ve done anything wrong with it?”
The federal government does.
Using a law designed to catch drug traffickers, racketeers and terrorists by tracking their cash, the government has gone after run-of-the-mill business owners and wage earners without so much as an allegation that they have committed serious crimes. The government can take the money without ever filing a criminal complaint, and the owners are left to prove they are innocent. Many give up and settle the case for a portion of their money.
Full Article - http://www.msn.com/en-us/news/us/law...red/ar-BBbbfW3
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10-25-2014 08:27 PMGetting bad advice is unfortunate, taking bad advice is a Serious matter!!
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10-26-2014 06:29 PM
Actually the IRS is the only time you are assumed guilty and must prove your innocent
Run until it sounds expensive
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11-03-2014 12:51 AMI have been there once. The worst thing was they couldn't ever get everyone to decide on what the law really was.
Getting bad advice is unfortunate, taking bad advice is a Serious matter!!
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11-05-2014 11:33 PMFlat Tax= no IRS. Send your payment direct to Department of Treasury.
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11-10-2014 11:16 PMIt should be a graduated flat tax and go!!
Getting bad advice is unfortunate, taking bad advice is a Serious matter!!