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Monthly Archives: April 2015
Banks have been required to report to the federal government deposits of more $10,000 or more since at least the 1960s. The amount has never changed. Tellers inform their business customers of the rule, so many keep their deposits below the $10,000 amount. The IRS, however, never seems to rest at devising ways to get money. Too many legitimate businesses have been victims of asset forfeiture over this rule. Why has the $10,000 figure not risen with inflation? Has the IRS become the real criminal here?
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