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Sieze First, Question Later: The IRS and Civil Forfeiture

Dick M. Carpenter II

0/5 ( ratings)

Federal civil forfeiture laws give the Internal Revenue Service the power to clean out bank accounts without charging their owners with any crime. Making matters worse, the IRS considers a series of cash deposits or withdrawals below $10,000 enough evidence of "structuring" to take the money, without any other evidence of wrongdoing. Structuring—depositing or withdrawing smaller amounts to evade a federal law that requires banks to report transactions larger than $10,000 to the federal government—is illegal, but more importantly, structured funds are also subject to civil forfeiture.

For more information, please visit www.ij.org.

Pages: 31

Format: Kindle Edition

Publisher: Institute for Justice

Release: June 28, 2016

Sieze First, Question Later: The IRS and Civil Forfeiture

Dick M. Carpenter II

0/5 ( ratings)

Federal civil forfeiture laws give the Internal Revenue Service the power to clean out bank accounts without charging their owners with any crime. Making matters worse, the IRS considers a series of cash deposits or withdrawals below $10,000 enough evidence of "structuring" to take the money, without any other evidence of wrongdoing. Structuring—depositing or withdrawing smaller amounts to evade a federal law that requires banks to report transactions larger than $10,000 to the federal government—is illegal, but more importantly, structured funds are also subject to civil forfeiture.

For more information, please visit www.ij.org.

Pages: 31

Format: Kindle Edition

Publisher: Institute for Justice

Release: June 28, 2016

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