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April 14, 2017 07:54 am PDT
Original Link: http://feeds.boingboing.net/~r/boingboing/iBag/~3/2xs73-XiU_g/innocents-make-easy-marks.html
The IRS deliberately targeted innocents for civil forfeiture program that stole millions from Americans
Banks have to report deposits of $10,000 or more to the IRS, so some fraudsters "structure" their transactions as a string of sub-$10K payments that escape the regulatory requirement. Structuring is also illegal, and the IRS has the power to seize funds that the agency believes were part of a structuring scheme, under the discredited "civil fofeiture" process through which an inanimate object is sued for being the proceeds of a crime, and then the owner of that object has to prove that the object is "innocent." (more…)
Original Link: http://feeds.boingboing.net/~r/boingboing/iBag/~3/2xs73-XiU_g/innocents-make-easy-marks.html
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