After two years, IRS finally returns money taken from honest business owner
Fatca, Civil Forfeiture, and deposit restructuring are just some of the obscure and draconian laws and regulations that have come out of Washington since the ideological ‘war on terror’ was introduced a decade ago. ¬†And despite the fact that the U.S. government has spent over one trillion dollars in collecting just $13.5 billion from foreign bank account holders, you would think that well paid bureaucrats would have a modicum of intelligence in determining the difference between a simple business owner, and a drug dealing cartel.
In 2014, a convenience store owner had his life savings confiscated by the IRS without any charges being filed, or investigation taking place, simply because each night he would make bank deposits of less than $10,000. ¬†And finally after two years of struggle, and at exorbitant cost to the business owner, the IRS finally decided that¬†Ken Quran was not a criminal after all, and returned his money with nary a thank you or explanation.
A North Carolina convenience store owner has won back his life savings from the¬†Internal Revenue Service — money that was seized because the IRS suspected him of trying to get around financial reporting laws.
The decision could lead to other business owners recovering money that was seized by the IRS.
In Ken Quran‚Äôs case, the IRS was suspicious about withdrawals of under $10,000 he made from a bank account for 427 Convenience Mart, the store he owns in Greenville, N.C. Although the IRS never accused him of any other crime, suspicion that he was engaged in structuring was enough for the IRS to seize $153,907 from his bank account.
Quran is not alone; hundreds of other owners of legitimate businesses have had their accounts seized by the IRS because of structuring suspicions. Three of them¬†testified at a House hearing a year ago.
The IRS changed its enforcement policy in structuring cases in October 2014 to focus only “on cases where evidence indicates that the structured funds are derived from illegal sources,” IRS Commissioner John Koskinen told the committee.
But that new policy didn‚Äôt help business owners who already had their money seized. They‚Äôve been trying to get their money back. – Biz Journals
In America, and especially ever since the government decided that the American people were guilty before proven innocent (see Homeland Security’s See Something, Say Something policy), laws intended to fight the drug war and the war on terror have instead been directed primarily at the citizenry, as seen by the fact that the government confiscated more money and property last year without a charge or indictment than the total amount of thefts done by criminals. ¬†And just as the FBI admits that the total number of terrorists stopped from performing a violent act in the U.S. over the past decade is 0, so too must the government admit that the only purpose for civil forfeiture is a cash grab against the people to help supplement their coffers.
Kenneth Schortgen Jr¬†is¬†a writer for¬†Secretsofthefed.com,¬†Examiner.com, Roguemoney.net, and To the Death Media, and hosts¬†the popular¬†web blog,¬†The Daily Economist.¬†Ken can also¬†be heard Wednesday afternoons giving an weekly economic report on the¬†Angel Clark radio show.