The IRS has apologized for stealing, or rather seizing, the back accounts of small businesses that did nothing other than deposit an improper amount of cash into their accounts. Pressured by Congress, the IRS has apologized for seizing banks accounts from otherwise law-abiding business owners simply because those owners structured bank transactions to avoid federal reporting requirements. The Associated Press reports “IRS Commissioner John Koskinen told Congress Wednesday that the IRS is changing policies to prevent the seizures, as long as the money came from legal means.” Civil asset forfeiture is a government racket where “suspicious” deposits at one’s banking...
