Lately I've been reading a lot of how the IRS is targetting individuals who deposit numerous sums under 10k. They seize the bank account and its up to the individual to prove they weren't trying to avoid taxes.
They're pulling Civil Asset Forfeiture on individuals legally earned income if they determine the deposits are "structured" in such a way to avoid the $10,000 reporting threshold. It's a catch 22 type thing, akin to driving 54 MPH in a 55 MPH zone in order to avoid a ticket. They did it in 2013 to a man (Andrew Clyde) who is now a Georgia congressman to the tune of ~ $1,000,000.00. When he pushed the issue the IRS offered him 2/3 of his money back if he'd agree to paying 1/3 as a "penalty". You can't make this sh*t up
Expect more of this as the deficit increases. 2ยข
