Rand Paul: How feds can legally steal your money via the IRS

[NACBA]

(CNN)There are many reasons why the Internal Revenue Service is perhaps the least-loved agency in America -- a tax code so complex that it seems like you need an advanced degree to understand it, the dreaded audit process and revelations that certain groups have been targeted based on their political beliefs.


And now, a growing awareness of instances where the IRS seized the money or property of law-abiding citizens without due process is adding to the agency's menacing reputation. According to the Institute for Justice, a public interest law firm that investigates civil forfeiture practices, these seizures carried out by the IRS had increased from 114 in 2005 to 639 in 2012.

Sounds unbelievable, but believe it.

Under a federal structuring statute, banks are required to report all cash deposits of more than $10,000 to the Financial Crimes Enforcement Network of the U.S. Treasury. To prevent money laundering, deposits purposely "structured" to evade this reporting are illegal. Enter the IRS.

http://www.cnn.com/2015/01/30/opinion/paul-walberg-civil-asset-forfeiture/

 

[RabbitMan]

Wish he would stop referring to people being targeted by the IRS based on their political beliefs. That was completely debunked.