Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Carole Hinders, owner of a small Mexican restaurant, got a knock on the door from a pair of IRS agents, who told her that they had seized $33,000 from her checking account.
Quote:
Originally Posted by New York Times
The Internal Revenue Service agents did not accuse Ms. Hinders of money laundering or cheating on her taxes — in fact, she has not been charged with any crime. 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.
“How can this happen?” Ms. Hinders said in a recent interview. “Who takes your money before they prove that you’ve done anything wrong with it?”
The article gives several other similar examples from around the country. One victim, after trying to prove his innocence, discovered that the government was not even interested in guilt or innocence. "They just want the money," he concluded.
Cash deposits of $10,000 or more trigger a 'suspicious activity report' that banks must pass on to the feds. But now according to the IRS, deposits under $1000 are also suspicious, because they might indicate an effort to avoid triggering a report.
The median amount seized is $34,000, and getting the money back can entail legal costs of $20,000 or more, so many just give up and let the government keep the money, according to the article.
As much as I hate to say this, we the people are ultimately to blame for electing and re-electing politicians that allow this to happen.
If the American People would wake up, get off their I-pads, phones, Etc, and demand our elected officials put an end to this, we would not be dealing with this.
The American people already showed the government we give the IRS a pass as long as a democrat is in power. Why would they need an excuse to take money from people.
I do get a kick out of what people think amounts to government overreach though. A nurse shows no symptons but she can be held captive for 21 days and many are okay with that but take our money or delay the purchase of a gun and the government is out of control,
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.?
I do get a kick out of what people think amounts to government overreach though. A nurse shows no symptons but she can be held captive for 21 days and many are okay with that but take our money or delay the purchase of a gun and the government is out of control,
That's an apples/oranges comparison. Preventing the spread of epidemics is a legitimate function of government, and an example of exactly what we have gov't for. Seizing the bank account of a restaurant owner is in no way comparable.
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 amount that was seized was $33,000, that doesn't mean that it was all deposited in one chunk. There are still restaurants that only accept cash. That is all besides the point anyway as the IRS should have to prove their case before just taking money out of people's accounts at will.
Edit: after reading the story and not just the snippet, the restaurant owner has a cash only business and she had deposited less then $10,000 at a time which the IRS viewed as an attempt to avoid triggering a required government report.
Carole Hinders, owner of a small Mexican restaurant, got a knock on the door from a pair of IRS agents, who told her that they had seized $33,000 from her checking account.
Fast and spurious!
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
