How IRS can seize accounts on suspicion alone!

[traderman]

This is some scary shit!

This is why Bitcoin and crypto in general has a big future!!

http://www.zerohedge.com/news/2014-10-26/they-just-want-money-how-irs-can-seize-accounts-suspicion-alone

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[rammy2k2]

scary for USA people ... not for the rest of the world

[traderman]

If you look at what kind of laws are being passed all over the world you will see that it is starting to happen everywhere now. The writing is on the wall.

scary for USA people ... not for the rest of the world

[seriouscoin]

This is some scary shit!

This is why Bitcoin and crypto in general has a big future!!

http://www.zerohedge.com/news/2014-10-26/they-just-want-money-how-irs-can-seize-accounts-suspicion-alone

wow! 

[cryptopaths]

scary for USA people ... not for the rest of the world

Ahhh if only the US did not have a massive reach and impose its law on the rest of the world. Sorry mate but if the USA wants to fuck someone over in another country they'll usually find a way.

[seriouscoin]

I find it extremely disturbing that Google and many other giant corps still pay tinniest tax (some even 1% of income) yet ordinary ppl got their live saving taken away.

Is this what we called Democracy?

[odolvlobo]

I find it extremely disturbing that Google and many other giant corps still pay tinniest tax (some even 1% of income) yet ordinary ppl got their live saving taken away.
Is this what we called Democracy?

Corporate income tax has nothing to do with civil forfeiture actions, and neither have anything to do with democracy.

[franky1]

many law agencies do it all the time. not just IRS. but police departments too.

its called 'policing for profit', laws need to change so that people are innocent until proven guilty, as laws like the forfeiture laws are the extreme opposite of innocent till proven guilty.

[traderman]

Actually they are all tied together!!

I find it extremely disturbing that Google and many other giant corps still pay tinniest tax (some even 1% of income) yet ordinary ppl got their live saving taken away.
Is this what we called Democracy?

Corporate income tax has nothing to do with civil forfeiture actions, and neither have anything to do with democracy.

[traderman]

I am pretty sure @ this point it is too late. As the governments sink deeper into debt, this kind of behavior will become the norm and it will be up to every individual to protect themselves.

many law agencies do it all the time. not just IRS. but police departments too.

its called 'policing for profit', laws need to change so that people are innocent until proven guilty, as laws like the forfeiture laws are the extreme opposite of innocent till proven guilty.

[Cryptowatch.com]

scary for USA people ... not for the rest of the world

Ask the people in Cyprus if they agree.

Well, this is normal government behavior. It's very interesting, because if anybody else did such things, it would be called theft/crime/stealing/robbery. Isn't it great to call yourself a government, then you just call it civil forfeiture.

I can imagine those people being affected by all of this really embraze their motherland after the fact, and thank the government for keeping them safe, after all, they could've been criminals, so it's very important they need to be protected from themselves!

And when an official sees a 'pattern', of course he must be right. Officials never do wrong!

/sarcasm

[segvec]

That is the IRS for ya.
Always intervening and trying to milk the country out of countless $.

[opossum]

many law agencies do it all the time. not just IRS. but police departments too.

its called 'policing for profit', laws need to change so that people are innocent until proven guilty, as laws like the forfeiture laws are the extreme opposite of innocent till proven guilty.

Ever since the Washington Post ran an article about this practice a few weeks ago, it has gotten a lot more attention by the MSM. I would not be surprised if many local elections would have this topic discussed as it is more of a local issue then a national one (although the federal government can also seize assets as discussed in the article in the OP - although I think local governments do this much more then the federal government).

One feature of democracy is that if the citizens do not like the law, they can get the law changed by voting in politicians who would be willing to get the law changed

[Palmdetroit]

scary for USA people ... not for the rest of the world

every where else u just get a drone visit 

[Cryptowatch.com]

Isn't it quite normal for the government to seize money in a bank account that's been inactive for x years as well, and what about seizing properties? I remember reading something about that as well..

[segvec]

Isn't it quite normal for the government to seize money in a bank account that's been inactive for x years as well, and what about seizing properties? I remember reading something about that as well..

Seizing cash is nothing new in the U.S...full of crooks.
CORRUPTION at its finest.

[jwinterm]

Isn't it quite normal for the government to seize money in a bank account that's been inactive for x years as well, and what about seizing properties? I remember reading something about that as well..

I think I've seen several articles about this happening in Australia recently.

http://theeconomiccollapseblog.com/archives/australia-seizes-360m-from-dormant-bank-accounts-and-all-50-u-s-states-are-doing-this-too

[seriouscoin]

Question for anyone familiar with this law.

Can they seize asset based on....suspicion?

[tvbcof]

This is some scary shit!

This is why Bitcoin and crypto in general has a big future!!

http://www.zerohedge.com/news/2014-10-26/they-just-want-money-how-irs-can-seize-accounts-suspicion-alone

People gotta realize that there is no real incentive for government employees to be accurate or good at their jobs.  They are actually rewarded for NOT doing their jobs (as 'their jobs' are commonly understood) as long as it is furthering an agenda, and that agenda is often hidden.  It's quickly becomming a much bigger problem in the U.S. recently.

Very recently I did some work on my place and gave my state's DEQ an excuse to fuck with me by 'disturbing' more than an acre of land.  Having some eco-snitch make an anonymous phone call to gave this totally bitchy DEQ cunt what she claimed to be jurisdiction over my project (before a zoning change which would have made it somewhat more appropriate.)  I was unaware of these rules and had designed my project (in conjunction with the state's department of forestry) to create zero sediment discharge.

This lady claimed that she believed that my project could increase the sediment load in the nearby river by 10%.  The river flows more than 6,000,000 gallons per minute when it is flooding and is dark brown with sediment and carrying full sized logs with their root wads at that stage.  This week it rained a lot for the first time and some water exited my work area.  It was crystal clear as I expected.

So, this bureaucrat was totally and completely wrong (through incompetence or malice or both) but it gave the DEQ an excuse to shaft me for $1600.  The bitchy cunt also tried to steer me to her friend's engineering firm to do the extensive paperwork which would have cost me another $10k, but I wasn't falling for it.  I did my own engineering documents and proposed my 'best management practices' to 'mitigate the risks' as do nothing.  That worked, but I am still out $1600.

The key to success here is to fuck only a small and unrepresentative sample of people.  The despicable 'greenies' living in their stack-n-pack condos in the cities are not going to be impacted by the extortion that the DEQ slammed me with, and they can feel all self-righteous that they are 'saving the earth' by supporting the DEQ.  Hopefully these bureaucrats and their 'NGO' minions/overloards will get get greedy and fuck to many people and there will be a backlash which will collapse their corrupt scams.

FWIW, to get even I'm now planning to clear-cut the shit out of all of my land even though I don't really need the money.  I'm actually something of an environmentalist myself and sacrifice about $100k in value to shade the river with trees in a buffer zone, but I've grown up around clearcuts and understand the ecological factors.  Most people don't seem to be able to conceptualize the reality that trees grow back.  As for leaving a buffer zone to protect the river, I feel it's important because I've spent 40 years running up and down the river and observing things.  The innumerate eco-fuckers and their self-serving pseudo-science does not impact my analysis at all (other than pissing me off.)

---

Anyway, I was aware of this $10k problem already.  I very deliberately did some Bitcoin cash-out transactions in excess of $10k so I could not be accused of 'structuring' (although, ironically, this very action could also be considered 'structuring'...if they wish to defend the argument in court.)

[Swordsoffreedom]

If you look at what kind of laws are being passed all over the world you will see that it is starting to happen everywhere now. The writing is on the wall.

scary for USA people ... not for the rest of the world

Yep it is a slippery slope
If it occurs in one place and is left unabated governments will then try to push it in their own district etc.
Always a fight against them.