There are times when it becomes absolutely impossible to support the remarkably bad judgment often displayed by federal agencies under the control of the current administration—even for those of us who are typically viewed as backers of many of this administration’s policies.
The latest installment of frightfully unacceptable government behavior involves a law created in 2000—the Civil Asset Forfeiture Reform Act of 2000—granting the IRS the power to seize the bank accounts of those suspected to be terrorists, drug dealers or engaged in other criminal activity, even when no charges have been filed and no convictions achieved.
The idea behind the law was to require banks to alert federal authorities to patterns of bank deposits that remain slightly below the $10,000 amount that has long triggered a bank’s responsibility to report deposits to the feds.
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DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
2 comments:
Joe the action of "structuring" deposits in order to avoid detection by the IRS is indeed a slippery slope innocent depositors are often just trying to avoid the hassle of dealing with the IRS and find themselves in a world of hurt as a result! This has happened here locally as well as all over the country.
This was meant for the real terrorist , Obama will use it as an excuse to gain money any way he can , that means you and I.
Lock and load , walmart has plenty of ammo.
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