For years, the Internal Revenue Service has been stealing taxpayer assets from small businesses — not for breaking tax law, but for making legitimate bank deposits under $10,000. It’s one form of the increasingly well-known practice called “civil asset forfeiture.” The IRS has the power to seize small cash deposits under $10,000. These deposits seem suspicious because cash deposits over $10,000 trigger a bank report to authorities. Terrorists, drug dealers, and money launderers all make cash deposits under $10,000 to avoid triggering the bank report. The illicit practice is called “structuring.” The problem is that many small businesses accept cash...
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