Sunday, April 26, 2015

Uncle Sam may have picked the wrong cash cow
...Based on Freedom of Information Act requests, the libertarian Institute for Justice has reported that the Internal Revenue Service has seized almost a quarter-billion dollars in such cases from 2005 to 2012, about half of which was never returned. A third of those cases, like the Sowers case, did not involve allegations of criminal activity beyond the structured deposits themselves....

...Roskam said he has told the Sowers story to senior citizens in his suburban Chicago district — and watched as their jaws dropped. “This is not a meth lab,” he said. “This is not a mafia front group. There’s no drug ring. These are people who have been in the dairy business a long time.”

Roskam has hounded the IRS not just on the issue of structuring but also on denying tax-exempt status to tea party groups and its choice of HealthCare.gov contractors....