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re: IRS seizes business' bank account for suspected crime
Posted on 10/29/14 at 9:05 am to SlowFlowPro
Posted on 10/29/14 at 9:05 am to SlowFlowPro
quote:This, but someone is going to tell you that you're wrong.
this isn't a DEM or a REP issue. this is a government issue. anyone who supports these laws hates freedom and believes in a police state.
There is no reason for this type of rule. A warrant isn't hard to get. In fact, they might be too easy to get in many cases. People love to cry tyranny and bitch and moan about a whole host of innocuous shite. This isn't innocuous, and we hear almost nothing about it.
0
Posted on 10/29/14 at 10:40 am to SpidermanTUba
quote:
Cash only restaurant. Deposits just under 10k and the owner even admits she was intentionally keeping the deposits under 10k to prevent reporting.
Remind me which crime she was found guilty of? TIA
Posted on 10/29/14 at 10:54 am to Projectpat
quote:
Remind me which crime she was found guilty of? TIA
No kidding. If she is filling her taxes quarterly would a forensic accountant not be more effective? That way if there is laundering going on you can trace it. Take the money and the roaches scatter.
This post was edited on 10/29/14 at 1:14 pm
Posted on 10/29/14 at 10:59 am to Revelator
This is why you never deposit cash in the bank.
Posted on 10/29/14 at 11:29 am to MrLarson
quote:
This is why you never deposit cash in the bank.
Even though its perfectly legal.
Posted on 10/29/14 at 11:30 pm to SlowFlowPro
quote:
anyone who supports these laws hates freedom and believes in a police state.
anyone who opposes these laws wants to cheat on their taxes.
Posted on 10/29/14 at 11:30 pm to Projectpat
quote:
Remind me which crime she was found guilty of? TIA
Remind me of when the law the money was seized under was repealed?
LINK
quote:
My mom had told me if you keep your deposits under $10,000, the bank avoids paperwork.
Its a long line of tax cheats! This post was edited on 10/29/14 at 11:32 pm
Posted on 10/29/14 at 11:37 pm to Projectpat
quote:
quote:
Cash only restaurant. Deposits just under 10k and the owner even admits she was intentionally keeping the deposits under 10k to prevent reporting.
Remind me which crime she was found guilty of? TIA
I'm sure the charge will be structuring, aka smurfing, which is a violation of 31 USC 5324
Posted on 10/29/14 at 11:42 pm to LSULaw2009
quote:
“Structuring,” as readers may recall, is the federal criminal offense of splitting up bank deposits so as to keep them under a threshold such as $10,000 above which banks have to report transactions to the government. Structuring is unlawful whether or not it occurs in conjunction with any other legal offense, as opposed to being motivated by, say, a desire to keep a low profile in general or a sentiment that the government already keeps tabs on too many innocent activities.
...or because your Mommie told you to do it!
LINK /
This post was edited on 10/29/14 at 11:42 pm
Posted on 10/30/14 at 4:50 am to SpidermanTUba
quote:
anyone who opposes these laws wants to cheat on their taxes.
cheating on taxes is honorable and praiseworthy
Posted on 10/30/14 at 6:57 am to Revelator
This is an issue that the right (or left) should be talk sing about everyday.
First of all the Government should have to have more to go on than simply X amount of cash to suspect a crime. This is a direct result of the War on Drugs and an excuse for politicians and officials to not do the job they are being paid to do.
At the very least the amount should be adjusted for inflation. It sounds like this woman was having to make multiple cash deposits to stay under the $10k limit. In a predominantly cash business, like a restaurant, $10k probably makes almost all successful owners a criminal in the eyes of the IRS...adjusted for inflation that number should be be about $40k today.....a number that most small business owners would have no trouble staying under.
First of all the Government should have to have more to go on than simply X amount of cash to suspect a crime. This is a direct result of the War on Drugs and an excuse for politicians and officials to not do the job they are being paid to do.
At the very least the amount should be adjusted for inflation. It sounds like this woman was having to make multiple cash deposits to stay under the $10k limit. In a predominantly cash business, like a restaurant, $10k probably makes almost all successful owners a criminal in the eyes of the IRS...adjusted for inflation that number should be be about $40k today.....a number that most small business owners would have no trouble staying under.
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