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View Full Version : IRS Seizes Over $100,000 From Innocent Small Business Owner



gsj68
05-13-2015, 02:14 AM
"Wielding a banking law intended to thwart drug trafficking and money laundering, the IRS has a new target in its sights: a rural convenience store that sells catfish sandwiches.Lyndon McLellan lost...

duane1969
05-13-2015, 09:48 AM
That is what silver and gold bars are for. Buy precious metals and install a top quality safe.

I saw a story of a guy who was driving through Tennessee and was stopped for a traffic violation. The cop asked if he had any drugs or money in the car. The guy admitted he was carrying about $20,000 and the cop seized it claiming he had reason to believe it was drug money. What is the lesson here? Never answer a cop's questions. They only ask questions to try and gather evidence of you doing something wrong or to catch you in a lie.

deansayso
05-13-2015, 10:51 AM
Mrs. Ladys is disgusting and over priced. We ordered a small plate of nachos for an app and they brought out a very small plate with about 5 chips on it and cheese. You could tell they just microwaved it.

They only accepted cash or checks too. There was something real sketchy going on there...

And yes that is from a town near me :)

duane1969
05-13-2015, 10:59 AM
A lot of businesses don't accept credit or debit cards because banks charge a transaction fee to process them. When I was a store manager we paid 2.1% plus .10 cents per transaction. If it is a large...

Star_Cards
05-13-2015, 11:13 AM
Not that this has to be the same thing, but here in Indy there is a large Mexican food restaurant group that was raided last year. They have multiple restaurants around town. Apparently they were pocketing a lot of the cash payments to avoid paying taxes on the sales. They were found out because an officer paid for his meal and the person didn't ring up the sale and got change out of a second cash drawer. They had underreported sales by $22,780,000 over the years at multiple restaurants. They pled guilty and paid a $4.5 million dollar fine.

http://fox59.com/2015/01/22/owners-of-el-rodeo-el-jaripeo-restaurants-plead-guilty-in-theft-case-4-5-million-seized/

shrewsbury
05-13-2015, 01:05 PM
If you are a business and making deposits, then you should do them in accordance with the law.
More paperwork at time of deposits, makes for less time you will be in a legal battle with the IRS.

They are a business, sure $10k makes the bells ring, but once they know who you are and you have sales to back your deposits (which you would) , then a $10K deposit is no big deal.

duane1969
05-13-2015, 01:51 PM
If you are a business and making deposits, then you should do them in accordance with the law.
More paperwork at time of deposits, makes for less time you will be in a legal battle with the IRS.

They are a business, sure $10k makes the bells ring, but once they know who you are and you have sales to back your deposits (which you would) , then a $10K deposit is no big deal.

Good point. I hadn't thought of it but when I managed and made deposits it wasn't uncommon for a weekend deposit to exceed $10k. I was never questioned about it or had to fill out any paperwork.

gsj68
05-13-2015, 05:25 PM
if they broke a law then charge them with a crime or give them their money back,at the moment the i.r.s. is doing neither <br />
shouldnt be to hard to determine if these people are drug traffickers or...

shrewsbury
05-14-2015, 10:12 AM
Have you ever dealt with the IRS? They move really, really, really slow. <br />
I am sure it will all work out, but the IRS will take their sweet time. <br />
I would hope that at the least they will be fined...