[Ed. – A boon for small businesses, which have completely honest reasons to make frequent deposits of less than $10,000 at a time.]
The Internal Revenue Service seized $446,000 from the bank accounts of brothers Jeffrey, Richard, and Mitch Hirsch in 2012, claiming a “structuring” violation against the owners of Bi-County Distributors Inc. for making multiple bank deposits of less than $10,000.
The government never charged them with a crime, nor gave them a hearing to enable them to contest the seizure, but after intense national media attention to the case, the government returned the funds. …
President Donald Trump signed a bipartisan bill Monday to force greater accountability on the IRS in the property seizures, as well as protect taxpayers from identity theft, boost whistleblower protections, and modernize the tax agency.