The IRS seized $107,000 from this business owner for making too many small cash depos

[mick silver]

The IRS seized $107,000 from this business owner for making too many small cash deposits Updated by Timothy B. Lee (http://www.vox.com/authors/timothy-b-lee) on May 2, 2015, 10:00 a.m. ET tim@vox.com
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If you deposit more than $10,000 in cash, your bank is required to file a form with the authorities reporting the transaction. But the law also makes it illegal to "structure" deposits — depositing cash in amounts under $10,000 to avoid triggering the reporting requirement.
But aggressive enforcement of these laws can ensnare small business owners whose only crime is dealing in cash. This video tells the story of Lyndon McLellan, a convenience store owner in rural North Carolina who had $107,702 seized by the IRS. The agency hasn't charged McLellan with any crime, but under controversial civil asset forfeiture rules (http://www.vox.com/2014/10/14/6969335/civil-asset-forfeiture-what-is-how-work-equitable-sharing-police-seizure) the burden of proof is on him to prove he didn't violate the "structuring" laws. The video was made by the Institute for Justice, a libertarian public interest law firm that is representing McLellan.

Related John Oliver rips into the scandal of for-profit policing (http://www.vox.com/2014/10/6/6918047/john-oliver-explains-how-the-police-can-take-your-stuff-without)
Eric Holder places a check on civil forfeiture powers (http://www.vox.com/2015/1/16/7558329/eric-holder-asset-forfeiture)

The New York Times points out (http://www.nytimes.com/2015/05/01/us/politics/rules-change-on-irs-seizures-too-late-for-some.html?_r=0) that business owners can have legitimate reasons for keeping their cash deposits under $10,000. For example, some store owners have insurance policies that only cover cash losses up to $10,000.
It won't be easy for McLellan to get his money back. Many forfeiture targets don't bother to contest seizures under civil forfeiture laws because legal fees would exceed the value of what was taken. But with IJ's help, he might be able to recover the money the IRS took from him.
The IRS declined to comment on the case, citing taxpayer privacy laws.

[Twisted Titan]

We are fast approaching the day when it makes sense to keep your cash in a coffee can

[Glass]

This guy wants to go and listen to that Ron McDonald guy. Same problems.

They are using Administrative proceedure. He needs to move against several actors involved in this. Including the bank that handed over the cash. Once it is gone it is lost but he might be able to get some claims against those agents which he can use to set off future IRS or Government claims.

[Neuro]

His biggest mistake was to put the cash in the bank. He should have just kept them and never reported having a cash income

[Cebu_4_2]

His biggest mistake was to put the cash in the bank. He should have just kept them and never reported having a cash income

There's not much you can do with large amounts of cash, can't buy a car or house or much of anything. It will all be reported.

[Neuro]

There's not much you can do with large amounts of cash, can't buy a car or house or much of anything. It will all be reported.
Sure he should have bought an ounce of gold or two once a week during the last year...

[expat4ever]

There's not much you can do with large amounts of cash, can't buy a car or house or much of anything. It will all be reported.
How you figure? I paid cash for my house. If I was selling a car I would only accept cash. Plenty of cars for sale, Private sales that will take cash. Now, going through a realtor or car dealer you are probably right.
When my house goes on the market later this year It will be the only time I accept a check. I will open an account. Pay for my new house then close my account and withdraw the funds or do a wire transfer and buy gold and just sell some when I need to.

Oh and if you have a load of cash sitting around and want to buy a house for cash send me a PM. LOL. I'll take cash. No law against me accepting cash in consideration for my home.

[Cebu_4_2]

Yes private sale is different. I found this house and had to send money to a realtor... I only had cash, my new bank had no problem but they told me they will need to report this transaction because it involves cash. I reopened my cr union account for $5.00 did the same and got a check in 2 minutes. Cr Unions seem much better than banks to me still.

[Horn]

Sure he should have bought an ounce of gold or two once a week during the last year...

That would have been reported also.

[Hitch]

We are fast approaching the day when it makes sense to keep your cash in a coffee can

The cash in the coffee can is the only cash I feel is safe. I'd say that day is here right now.

[BrewTech]

We are fast approaching the day when it makes sense to keep your cash in a coffee can

I don't remember a time when it didn't make sense to keep your cash in a coffee can.