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re: IRS seizes business' bank account for suspected crime
Posted on 10/30/14 at 6:57 am to Revelator
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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