IRS: Stop Seizing Innocent Business Owners' Funds!
- by: Chris Wolverton
- recipient: John Koskinen, Commissioner of Internal Revenue, IRS
The Internal Revenue Service (IRS) is using a law designed to catch drug traffickers, racketeers and terrorists and turning it against innocent business owners and wage earners. The law allows the IRS to seize people's funds, even if they haven't been charged with a crime.
The IRS' seizure of funds is adversely affecting the lives of honest people and their families. Last year, the IRS seized $33,000 from Mexican restaurant owner Carole Hinders, who ran a cash-only business for 40 years. She was forced to use credit cards and take out loans to keep her business going.
The IRS may suspect tax evasion if an individual or business deposits less than $10,000 to their bank account at a time. Banks and other financial institutions are required to report deposits over $10,000, but criminals often deposit smaller amounts to evade reporting requirements. However, there are legitimate reasons to deposit smaller amounts.
People shouldn't have to worry about seizure of their life savings just because they make small deposits in hopes of keeping their money secure. Please sign the petition to urge the IRS to stop seizing innocent business owners' funds!
We, the undersigned, are concerned that the IRS is using a law designed to catch drug traffickers, racketeers and terrorists and using it to seize funds from run-of-the-mill business owners.
We understand that the IRS may suspect tax evasion if an individual or business deposits less than $10,000 to their bank account at a time. Banks and other financial institutions are required to report deposits over $10,000, but criminals often deposit smaller amounts to evade reporting requirements. However, there are legitimate reasons to deposit smaller amounts.
The IRS' seizure of funds is adversely affecting the lives of honest people and their families. Last year, the IRS seized $33,000 from Mexican restauraunt owner Carole Hinders, who ran a cash-only business for 40 years. She was forced to use credit cards and take out loans to keep her business going.
People shouldn't have to worry about seizure of their life savings just because they make small deposits in hopes of keeping their money secure. We urge you to stop seizing business owners' funds on suspicion alone. Thank you for taking the time to read and consider our petition.
