Please ensure Javascript is enabled for purposes of website accessibility
Trump Signs New Law To Protect Innocent Small Business Owners From IRS Seizures
News
By News
Published 6 years ago on
July 15, 2019

Share

[aggregation-styles]

For the first time in nearly 20 years, Congress has reined in civil forfeiture, which lets the federal government permanently confiscate property without ever filing criminal charges. Following unanimous approval by Congress, President Donald Trump last week signed the Taxpayer First Act (H.R. 3151), an overhaul of the Internal Revenue Service that includes the Clyde-Hirsch-Sowers RESPECT Act. Named after Institute for Justice clients Jeff Hirsch and Randy Sowers, two small-business owners who had their bank accounts raided by the IRS, the RESPECT Act curbs the IRS’s power to seize cash for “structuring” offenses.
Under the Bank Secrecy Act of 1970, banks must report any cash transactions greater than $10,000. But if someone frequently deposits or withdraws their cash in amounts under $10,000, the IRS could seize it for “structuring.” Even though their money was earned legitimately and despite the fact that they were never charged with a crime, in 2012, the IRS seized nearly $63,000 from Randy and more than $446,000 from Jeff. It took years of litigation and high-profile coverage before they won their money back.

Read More →

RELATED TOPICS:

DON'T MISS

What Are Fresno Real Estate Experts Predicting for 2025 and Beyond?

UP NEXT

Rise of the Anti-“Woke” Democrat

Kings County Sheriff Announces Retirement After Nearly 30 Years in Law Enforcement

14 hours ago

General Mills to Remove Artificial Colors From All Its US Cereals and Foods

14 hours ago

‘Who’s Running the White House?’ Trump Brings Back ICE Raids on Farms, Restaurants

U.S. immigration officials on Tuesday walked back limits on enforcement targeting farms, restaurants, hotels and food processing plants just...

13 hours ago

13 hours ago

‘Who’s Running the White House?’ Trump Brings Back ICE Raids on Farms, Restaurants

14 hours ago

Granite Park Eviction Lawsuit Heads Toward Trial

Mark Kismet, 50, who is considered at-risk went missing on Friday, June 6, 2025, in Clovis near Harlan Ranch is still missing according to the Clovis Police Department on Thursday, June 12, 2025. (Clovis PD)
14 hours ago

Missing Clovis Man Found Dead. No Foul Play Suspected

Kings County Sheriff Dave Robinson announced he will retire on November 24, 2025, ending a nearly 30-year career and prompting the county to consider options for his replacement. (Kings County SO)
14 hours ago

Kings County Sheriff Announces Retirement After Nearly 30 Years in Law Enforcement

14 hours ago

General Mills to Remove Artificial Colors From All Its US Cereals and Foods

15 hours ago

US FDA to Shorten Review Time for Drug Developers Under New Voucher Program

15 hours ago

Physician Warns Fresno County Supervisors About Jail’s Medical Provider, Private Equity Co.

15 hours ago

Houthi Official Says Group Will Intervene to Support Iran Against Israel

Help continue the work that gets you the news that matters most.

Search

Send this to a friend