IRS Seizes Small Store’s Bank Account. It’s Asset Forfeiture. It’s Legal.
"This man runs a small store. His insurance company insures against theft for only $10,000 per robbery. So, his daughter waited until there was $9,000. Then she deposited the money in the bank. An IRS agent seized the money. She charged 'structuring.' The IRS requires you to report cash deposits in excess of $10,000. It also prohibits 'structuring' — deposits just under $10,000. 'How will I pay my workers?' he said. 'I don’t care,' she replied. She handed him her card. The Internet may give the story enough coverage to convince the IRS agent’s superior that the bad publicity isn’t worth $35,000. Otherwise, this man is out of business." Continue reading →
The Republican-controlled Missouri legislature is expected to enact a statute next month nullifying all federal gun laws in the state and making it a crime for federal agents to enforce them here. A Missourian arrested under federal firearm statutes would even be able to sue the arresting officer. The law amounts to the most far-reaching states’ rights endeavor in the country, the far edge of a growing movement known as 'nullification' in which a state defies federal power. In a letter explaining his veto, Governor Jay Nixon said the federal government’s supremacy over the states’ 'is as logically sound as it is legally well established.' When the legislature gathers again, it will seek to override his veto.