Sunday, May 31, 2015

IRS Steals $107,000 From Convenience Store Owner, Violating Its Own 'Structuring' Policy
...As in other structuring cases, McLellan lost his money because of well-intentioned but bad advice from a bank teller. The teller told McLellan's niece, who usually handled L&M Convenience Mart's deposits, she could save the bank burdensome paperwork by keeping the deposits below $10,000, the reporting threshold. Based on the resulting pattern of deposits, the IRS cleaned out McLellan's bank account a year ago, even though there was no evidence that the money came from anything other than his perfectly legal business, which combines a store with a gas station and restaurant. The Institute for Justice, which is suing the IRS and the DOJ on McLellan's behalf, notes that "the government filed its forfeiture complaint in December 2014, two months after the IRS announced it would not forfeit money in cases like this one." ...