IRS Seizing the Bank Accounts of Innocent Americans

The Internal Revenue Service has been seizing the bank accounts of innocent Americans whom they “suspect” may be involved in criminal activity. They have been doing so without any viable proof, to citizens who have never had charges filed against them. These innocent individuals are then left in an impossible bind: allow the IRS to negotiate a return of only part of the seized assets, or shell out big bucks in costly legal fees to fight the matter in court.

The Institute for Justice reports that seizures have jumped from 114 in 2005, up to 639 in 2012, with criminal charges pursued in only about 20% of cases.

The Civil Asset Forfeiture law of 2000 requires banks to report to the IRS deposits made by individuals which are in excess of $10,000. However, banks are also to report any other lesser deposits which they deem “suspicious.” Last year, an estimated 700,000 reports were made by banks to the IRS of these so-called “suspicious” deposits. The law was originally intended to be used against gangsters, drug dealers and terrorists. Now it is being manipulated by the IRS to target conservatives – a favorite hobby of the feds.

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