IRS apologizes for seizing bank accounts of small businesses
Source: AP-Excite
By STEPHEN OHLEMACHER
WASHINGTON (AP) — Pressured by Congress, the IRS said Wednesday it is changing its policies and apologizing for seizing banks accounts from otherwise law-abiding business owners simply because they structured bank transactions to avoid federal reporting requirements.
Their alleged crime: routinely making bank deposits of less than $10,000. That allowed the business owners to avoid reporting requirements designed to catch drug dealers and money launderers.
IRS Commissioner John Koskinen told Congress that the IRS is changing policies to prevent the seizures, as long as the money came from legal means.
"To anyone who is not treated fairly under the code, I apologize," Koskinen told the House Ways and Means oversight subcommittee. "Taxpayers have to be comfortable that they will be treated fairly."
FULL story at link.
FILE - In this July 23, 2014 file photo, IRS Commissioner John Koskinen testifies on Capitol Hill in Washington. Under pressure from Congress, the IRS has apologized for seizing banks accounts from otherwise law-abiding business owners simply because they structured bank transactions to avoid federal reporting requirements. The business owners{2019} alleged crime: They routinely made bank deposits of less than $10,000. That allowed them to avoid reporting requirements designed to catch drug dealers and money launderers. Koskinen told Congress Wednesday the tax agency is changing its policies to prevent the seizures, as long as the money came from legal means. (AP Photo, File)
Read more: http://apnews.excite.com/article/20150211/us--irs-seizing_assets-69feacb68c.html
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They need more visuals and tears. Plenty of tears (try Vicks under the eyes). And they have to keep mea culpa-ing until the cows come home, you know really sell it. Like BP did. That way all will be forgiven them.
- Just like we did for BP......
K&R
