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IRS apologizes for seizing bank accounts of small businesses




Their alleged crime: routinely making bank deposits of less than $10,000. That allowed the business owners to avoid reporting requirements designed to catch drug dealers and money launderers-IRS Commissioner John Koskinen told Congress that the IRS is changing policies to prevent the seizures-By law, bank transactions above $10,000 must be reported to the IRS. It's a felony, called "structuring," to manage transactions to avoid the reporting requirement

Read Full Story: http://apnews.myway.com/article/20150211/us--irs-s...

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