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Old 10-26-2014, 03:15 PM
 
Location: Old Bellevue, WA
18,782 posts, read 17,297,672 times
Reputation: 7990

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Quote:
Originally Posted by cb73 View Post
While this is a sad story, please give me an example of the last time you deposited $33,000 IN CASH to your account. I've had occasions where's I've moved largish amounts of investment money, and they've always said there was no problem because it was clearly defined where the money was coming from.

Think about the last time you receiving some large amount. Wasn't it a check?

Who has that much in cash? Even owning a restaurant, wouldn't most of the till be debit cards, credit cards, etc.?
OK, so you're saying that being bad at money management is justification for the gov't to seize your money? Right now I have a checking account w/ about $50,000 in it simply because I am too lazy and stupid to put it into some good investments. So because of that, I am fair game for Washington DC to perform highway robbery on me?

I worked hard for that money, and if the IRS wants to grab it, I will go down shooting and take some of them scum with me.
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Old 10-26-2014, 03:26 PM
 
79,907 posts, read 43,952,085 times
Reputation: 17189
If any one has ever made a 10K plus deposit or business deposit you would realize what a scam this is by the government. I sold a car and without thinking and went to deposit the money. What a pain. There is no sense in it.

So a business takes in $11-12k a night and want to make an after hours deposit. What are they suppose to do? Take time to go to the bank every morning to jump through the same stupid hoops every single day?

Why people don't insist on real change that is a benefit for them as opposed to politicians and the government is beyond me.
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Old 10-26-2014, 03:26 PM
 
Location: Florida
33,507 posts, read 18,029,913 times
Reputation: 15498
I can understand it if there is no source to make that big money in their busiiness , but over years , people can save it in their homes or a safe deposit box or their own safe..

If the numbers are too large and the money is flowing I can see the government wondering where it came from..

People can inherit money, hit the jackpot, sell something extremely valuable, or get an insurance settlement.. there are very legitimate ways to get large sums of money. The IRS should first talk to them and if they have no legal answer, then the IRS can dig deeper. If it doesn't add up , the depositors got problems.

Some people are savers , and live very frugally. I bet there are some that have mega money and live like a pauper. If they decide to put the money in the bank.. they will have to say... I am a saver, not a spender and I earned every penny. The IRS should also keep an opened mind about it.
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Old 10-26-2014, 03:27 PM
 
8,483 posts, read 6,907,575 times
Reputation: 1119
Quote:
Originally Posted by cb73 View Post
While this is a sad story, please give me an example of the last time you deposited $33,000 IN CASH to your account. I've had occasions where's I've moved largish amounts of investment money, and they've always said there was no problem because it was clearly defined where the money was coming from.

Think about the last time you receiving some large amount. Wasn't it a check?

Who has that much in cash? Even owning a restaurant, wouldn't most of the till be debit cards, credit cards, etc.?
The whole premise here it to kill cash and to obviously confiscate it. The restaurant did not process credit cards it doesn't seem. (Which cost money.) It was cash only. Just because one accepts cash does not mean there are no business records or that one is engaged in criminal activities.

This is what it said.
quote:
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.
...
in fact, she has not been charged with any crime.
...
He added that making deposits under $10,000 to evade reporting requirements, called structuring, is still a crime whether the money is from legal or illegal sources.

I am amazed at how inhumane humans can be to other humans.
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Old 10-26-2014, 03:39 PM
 
41,111 posts, read 25,611,648 times
Reputation: 13868
Quote:
Originally Posted by wutitiz View Post
OK, so you're saying that being bad at money management is justification for the gov't to seize your money? Right now I have a checking account w/ about $50,000 in it simply because I am too lazy and stupid to put it into some good investments. So because of that, I am fair game for Washington DC to perform highway robbery on me?

I worked hard for that money, and if the IRS wants to grab it, I will go down shooting and take some of them scum with me.
If you have money government and liberals think you are fair game, period.
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Old 10-26-2014, 03:41 PM
 
2,499 posts, read 2,618,001 times
Reputation: 1789
wut- they are both examples of government overreach. Holding someone captive with no symptoms is government abuse. How much should NJ compensate her for the 21 days she will be unable to work or take care of her family?
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Old 10-26-2014, 03:42 PM
 
8,483 posts, read 6,907,575 times
Reputation: 1119
Quote:
Originally Posted by Taratova View Post
I can understand it if there is no source to make that big money in their busiiness , but over years , people can save it in their homes or a safe deposit box or their own safe..

If the numbers are too large and the money is flowing I can see the government wondering where it came from..

People can inherit money, hit the jackpot, sell something extremely valuable, or get an insurance settlement.. there are very legitimate ways to get large sums of money. The IRS should first talk to them and if they have no legal answer, then the IRS can dig deeper. If it doesn't add up , the depositors got problems.

Some people are savers , and live very frugally. I bet there are some that have mega money and live like a pauper. If they decide to put the money in the bank.. they will have to say... I am a saver, not a spender and I earned every penny. The IRS should also keep an opened mind about it.
According to the article, one company has been fighting for years to get back almost 500,000 taken. They even paid 25,000 for a forensics account review. They are saying 'structuring' is a crime.
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Old 10-26-2014, 03:48 PM
 
Location: Old Bellevue, WA
18,782 posts, read 17,297,672 times
Reputation: 7990
I'm not amazed at all. I'm in the middle of reading Uncle Tom's Cabin by Harriett Beecher Stowe. There are always people around who seek to profit from the labor of others. Back then it was Simon Legree; now it is Lois Lerner.

Plus ca change, plus c'est la meme chose.
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Old 10-26-2014, 03:53 PM
 
Location: Oxygen Ln. AZ
9,319 posts, read 18,698,919 times
Reputation: 5764
Quote:
Originally Posted by cb73 View Post
While this is a sad story, please give me an example of the last time you deposited $33,000 IN CASH to your account. I've had occasions where's I've moved largish amounts of investment money, and they've always said there was no problem because it was clearly defined where the money was coming from.

Think about the last time you receiving some large amount. Wasn't it a check?

Who has that much in cash? Even owning a restaurant, wouldn't most of the till be debit cards, credit cards, etc.?
So you sell a home and deposit a large chuck of cash in the bank.....

Lots of people have that much cash...lots of people earn a lot of cash.....Just because one is a despot and has little cash does not mean the gov has the right to seize all accounts over $25
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Old 10-26-2014, 04:02 PM
 
41,111 posts, read 25,611,648 times
Reputation: 13868
Quote:
Originally Posted by MotleyCrew View Post
So you sell a home and deposit a large chuck of cash in the bank.....

Lots of people have that much cash...lots of people earn a lot of cash.....Just because one is a despot and has little cash does not mean the gov has the right to seize all accounts over $25
Sounds like Greece that confiscating confiscating money. Money might be safer buried in the backyard. Maybe that's what the shovel ready jobs of for though.
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