Posted on 02/12/2015 10:18:38 PM PST by Olog-hai
An Iraq War veteran says the IRS extorted him and left him no money to run his small business.
Navy veteran Andrew Clyde, owner of Clyde Armory in Georgia, explained on tonight’s “On The Record” that the IRS seized nearly $1 million from him back in April 2013 due to a federal program which allows the IRS to seize assets over suspected criminal activity.
Clyde said two IRS agents showed up with a seizure warrant and took $940,313 from the company bank account. They accused him of “structuring,” or frequently depositing sums under $10,000, since deposits above $10,000 must be reported to the federal government. …
(Excerpt) Read more at insider.foxnews.com ...
So if your business makes less than 10,000K a day or week and you deposit regularly, how the hell are you supposed to do business....?
I mean what model do you follow? Cash only and deposit it in mayo jars buried in your backyard????
That the pests control armies of bureaucrats intertwined with other agencies [esp. enforcement
] to form vast standing armies makes an attempt at pest control certainty for civil war.
As a pharmacist I received monies from the Federal Government on a monthly basis that would fall in line with this. When will the Federal government seize their own assets due to structuring of deposits?
Read the fourth amendment. What the IRS is doing is illegal!!!!!!!!!!!!!!!
Bravo, glad he fought back! A true warrior!
We are in fear of our government instead of the reverse. We no longer live in a free country.
“Bravo, glad he fought back! A true warrior!”
Sort of. He lost 50 grand plus lawyers’ fees to get HIS OWN MONEY BACK.
If the Republicans manage to evict the Demorats from the executive branch, gutting the IRS had better be their top Republican priority in 2016. If they fail to take the executive branch, gutting the IRS should be their top priority for 2016.
Never happen. Its all about the control and the uniparty will not relinquish that power over 300,000,000 subjects.
They have done it before. I remain hopeful that they do it again.
Republicans have zero desire to stop this. Zero desire. They want to control it, not stop it.
Undortunately, the GOP won’t do a damn thing.
These people have names and addresses.
IRS is fast becoming a target for a RICO suit.
There are forms one must file at the bank - give your ID - it takes like 10 minutes or less...everyone that brings in deposits of over $10K has to do it - it is a common practice...this Vet should have known that and was made aware of it when setting up his account...bank tellers are aware o fit as well...and if he became lazy and started depositing amounts that were rounded out like $9500, $8000, $7500 — then that is subject to suspicion as well. No one makes even profits on a daily or weekly basis...all this stems from drug sales and other criminal enterprises that used to deposit even amounts...
It’s not a perfect system - but a system that if followed one will not have to worry about the IRS coming in and seizing anything...
The banks do this without any action by the person. That’s how the irs gets notified of these transactions.
Yes this was created by the war on drugs. Has it helped? I can still buy anything I want anytime I want.
“There are forms one must file at the bank . . ,”
The tree of liberty is not nourished by goverment forms. When forms are required to reduce the risk lawful commercial transactions will result in arbitrary confiscation property by the state, there is no liberty.
I saw the Fox News story covering this subject. The vet’s business is selling firearms and ammunition. Not once did the reporter mention it has been the policy of this administration to use the IRS and DOJ to cut off the supply of capital to small businesses engaged in the sale of firearms. The DOJ, and leftist anti gun groups, have been leaning heavily on banks not to make loans to these businesses or accept deposits from them. The IRS has been turned loose to seize assets and harass these businesses until they capitulate.
Most small businesses are undercapitalized and cannot afford the loss of a significant amount of cash for more than a few days. In this case the IRS seized over $900,000 and scheduled the administrative hearing 90 days later. Most small businesses would have to close their doors in less than 90 days without the cash to pay employees and bills. This vet apparently had other resources and was able to stay in business while hiring some high priced lawyers. When the IRS realized he could and would fight, the agency offered to settle by returning 2/3 of the money and keeping the other 1/3 (about $300,000). The vet continued to hang tough and ended up getting all of his money back except $50,000. He paid his lawyers about $100,000.
Congress and the courts have empowered administrative agencies to trample on property and due process rights. What will be the result from this citizen’s testimony before Congress? Will the self proclaimed conservative Republican protectors of the people immediately draft and pass legislation to halt these abuses by the bureaucracy? If not, what was the reason for electing a Republican controlled Congress?
Another piece of evidence elections no longer matter.
I agrre with the both you...having worked on anti - money laundering projects involving terrorsit funding ...the fastest route to having a govt entity getting involved inones live is to invite them in by not playing their stupid forms games...I didn’t say this was right...but until it is changed and the IRS dissolved permanently...then it is the way it is....trust me...corrupt IRS officials and State tax officials did this to my fathers business in the 80’s and he did marine construction....In am on the side of the Citizen!
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