IRS took millions from innocent people due to how they managed their money


Wall St. Cash | Simon Dawson — BLOOMBERG

(Simon Dawson — BLOOMBERG)

’In most cases, the report found, agents followed a protocol of “seize first, ask questions later.” Agents only questioned individuals and business owners AFTER they had already seized their money…’

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“The Internal Revenue Service has seized millions of dollars in cash from individuals and businesses that obtained the money legally, according to a new Treasury Department inspector general’s report …

Simply depositing cash in sums of less than $10,000 was all that it took to arouse agents’ suspicions, leading to the eventual seizure and forfeiture of millions of dollars in cash from people not otherwise suspected of criminal activity …

The report found that in 91 percent of those cases, the individuals and business had obtained their money legally.”

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