IRS Abuses Power By Seizing Small Businesses Bank Accounts


The Internal Revenue Service (IRS) has a lengthy record of abusing power.

The IRS’s abuse of power is not restricted to targeting tea party groups but it also includes seizing assets of small business owners under the suspicion of engaging in money laundering.

Under federal civil asset forfeiture laws the IRS can seize bank accounts of individuals that make a series of deposits or withdrawals of cash under $10,000. Cash transactions under $10,000 are suspicious because they fall under the federal reporting requirement and it’s illegal to avoid the reporting threshold by “structuring” a number of smaller transactions to avoid federal detection.

Most concerning is that civil asset forfeiture allows the IRS to take the money first with the burden falling on the individual to prove their innocence. The guilty first, innocent second twisting of justice puts the IRS in a powerful position.
Read more at DeneenBorelli

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