New Law Stops IRS From Stealing People's Money Simply Because It Deems Their Bank Deposits Suspiciously Small

Posted on AllSides July 4th, 2019
From The Right

Yesterday Donald Trump signed a law that forbids the IRS to seize the bank accounts of business owners based on nothing more than the allegation that they "structured" their deposits or withdrawals to evade federal reporting requirements. That kind of odious money grab—which, like other forms of civil forfeiture, did not require criminal charges, let alone a conviction—provoked bipartisan outrage in Congress after it was publicized by the Institute for Justice, the libertarian public interest law firm.

Since 1970 the humorously named Bank Secrecy Act has required financial institutions to...

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https://reason.com/2019/07/02/new-law-stops-irs-from-stealing-peoples-money-when-it-deems-their-bank-deposits-suspiciously-small/

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