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Message
Dennis Hastert Former Majority Leader Indicted by Fed
Posted on 5/28/15 at 4:44 pm
Posted on 5/28/15 at 4:44 pm
For structuring the withdrawal of $952,000 in sums less than $10000 in order to get around IRS notification.
Taking your money out of bank is potentially illegal. If not done the way the IRS likes you to.
Taking your money out of bank is potentially illegal. If not done the way the IRS likes you to.
This post was edited on 5/28/15 at 4:46 pm
13
Posted on 5/28/15 at 4:45 pm to Speys and Tays
He's a good ole baw.
Y'all leave him alone.
Y'all leave him alone.
Posted on 5/28/15 at 4:47 pm to Speys and Tays
Yea frick em
Posted on 5/28/15 at 4:47 pm to Speys and Tays
quote:
Taking your money out of bank is potentially illegal. If not done the way the IRS likes you to.
I swear, this country is turning into pure shite. I'll bet if the Founding Fathers could see what we've become, they'd have said "frick it, let's just stick with ole King George".
Posted on 5/28/15 at 4:48 pm to Speys and Tays
He was awesome on Major League and 24.
This post was edited on 5/28/15 at 4:48 pm
Posted on 5/28/15 at 4:48 pm to Speys and Tays
quote:
For structuring the withdrawal of $952,000 in sums less than $10000 in order to get around IRS notification. Taking your money out of bank is potentially illegal. If not done the way the IRS likes you to.
He should obey the law, but a law like this proves just how far govt. will go to control your life.
Posted on 5/28/15 at 4:49 pm to Darth_Vader
I also enjoyed his run on Law and Order.
Posted on 5/28/15 at 4:51 pm to Speys and Tays
I believe someone recently started a thread about a guy that was recently F'd by the IRS for depositing his money in $10,000 increments as advised by his bank. It wasn't illegal, but the IRS didn't like it so they stuck it to him.
Posted on 5/28/15 at 4:52 pm to Speys and Tays
quote:
For structuring the withdrawal of $952,000 in sums less than $10000 in order to get around IRS notification. Taking your money out of bank is potentially illegal. If not done the way the IRS likes you to.
Wait a damn minute....You mean to tell me if I got nearly a mill in the bank and I withdraw it slowly ..That's fricking Illegal???? What kinda bizzaro world are we living in..
Posted on 5/28/15 at 4:58 pm to Phil A Sheo
He was being blackmailed and when the FBI wanted to know why he was taking the money out in an odd manner, he lied to the FBI.
Posted on 5/28/15 at 5:12 pm to Speys and Tays
That's bullshite on epic levels.
Posted on 5/28/15 at 5:16 pm to Speys and Tays
Wasn't he the one who did not want to rebuild New Orleans?
Posted on 5/28/15 at 5:18 pm to Speys and Tays
Imagine how many don't get caught.
Posted on 5/28/15 at 5:24 pm to airportwhiskey
The law is there to detect money laundering. If you make a large cash deposit/withdrawal in excess of $10k, the banks are required to file a Transaction Report to the IRS. Lots of small, repetitive transactions is a red flag of illegal activity. I know, it sucks and may not be right, but that's the purpose
Posted on 5/28/15 at 5:28 pm to Bucktail1
The irony that this guy was the one overseeing the passing of bullshite laws and regs and now one has him in a bind. Karma.
Posted on 5/28/15 at 5:30 pm to doubleb
quote:
He should obey the law, but a law like this proves just how far govt. will go to control your life.
Posted on 5/28/15 at 5:31 pm to Bucktail1
quote:
Lots of small, repetitive transactions is a red flag of illegal activity.
And he was being blackmailed, so it sounds like the structuring rule worked. It helped find illegal activity.
Posted on 5/28/15 at 5:31 pm to kywildcatfanone
The story says he was going to pay someone $3.5 mill to conceal and compensate them for something he did to them. WTF do you do that is worth that much to hide?
Posted on 5/28/15 at 5:32 pm to Speys and Tays
he was president not majority leader
Posted on 5/28/15 at 8:53 pm to Fearthehat0307
quote:
Fearthehat0307
he was president not majority leader
No he was the Speaker of the House or Majority Leader of Congress, but not President.
Third in line behind the V.P.
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