This bakery was operating business just like normal, depositing money in the bank. It just so happened, purely by coincidence, that their monthly routine deposits into their bank account happened to average just under $10,000. The two brothers who owned the bakery did not realize there is a law against that. As a result, $68,000 in their bank accounts was seized by the Internal Revenue Service. When they filed a claim to get it back, a prosecutor threatened them with serious criminal charges and an even bigger fine. It seems this law is just being used as an excuse for asset forfeiture, with the language of the law allowing prosecutors to seek retribution against business owners who object to their money being stolen. These brothers say they had no idea the law existed. They were just putting money into their bank account like normal. It was just a coincidence that their periodic repeat deposits happened to be around the amount they were. The law was originally passed with the intention of trying to stop people from getting around the reporting requirement, since banks are required to report any deposit over $10,000 to the government.
I have long railed against the practice of civil asset forfeiture abuses by the IRS and LE agencies without following due process. It is a practice frequently abused and, to me, not only a violation of the 4th-8th Amendments, but is often selectively applied more frequently with minorities. While most people are aware of banks being required to report transactions of 10000 or more, few realize that the IRS will freeze and seize assets if they become aware of lessor transactions amounts under what they define as structured deposits. Then too, someone carrying large amounts of cash can have the cash seized by LE agencies, a practice frequently abused. Since the late 80’s, a tool originally intended to target drug dealer, has evolved and been openly abused without evidence of probable cause, much less, a conviction for criminal behavior. The abuse has been well reported. A simple query of based on ‘Civil Asset Forfeiture Abuse by IRS’ or ‘Policing for Profit’ will turn up a lot of relevant material. Abuses https://www.themarshallproject.org/records/2217-asset-forfeiture-abuse https://www.techdirt.com/articles/2...re-so-much-they-take-cash-crime-victims.shtml Recent Remedies https://www.nbcnews.com/think/opini...laws-so-long-supreme-court-stepped-ncna974086 https://reason.com/2019/07/02/new-l...deems-their-bank-deposits-suspiciously-small/ However, Relative to the IRS, the following lists current policies https://www.irs.gov/irm/part4/irm_04-026-013
