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IRS shuts down mom and pop dressmaker, sells dresses within hours
submitted 4 years ago by dcjogger from dallasnews.com
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[–]Tom_Bombadil 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 0 fun3 insightful - 1 fun - 4 years ago (0 children)
The IRS claimed that the businesses intentionally tried to evade federal bank reporting requirements by making cash deposits just under the $10,000 limit. Critics say the IRS is being heavy-handed for seizing money from businesses when they haven't been charged with a crime.
They sold off the businesses assets, because of reporting requirement? Without a trial?!?
It's like the IRS is getting in on the civil forfeiture action. :-(
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[–]Tom_Bombadil 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 0 fun3 insightful - 1 fun - (0 children)