I remember reading a while ago about some guy who owned a convenience store. The IRS went after him for what they call “structuring.” There’s a bunch of paperwork that needs to be completed for cash deposits over $10,000. If you make cash deposits in a way that avoids that paperwork, that’s an IRS flag in and of itself and requires investigation.
This guy did a mostly cash business. It was a convenience store for Heaven’s sake. It’s a cash business and he did well with it.
IRS came in with guns blazing and tried to shut him down and throw him in prison.
He was, indeed, manipulating his deposits to keep from having to do that nasty paperwork — just to satisfy IRS goons.
They threw the book at him. And he lost everything. For a crime that isn’t really a crime and only exists so the IRS can track you and your money.
There are lots of IRS rules in place. They want to make sure you report every single cent. And that they can track every single cent.
A few years ago, a client of mine who’d done a lot of research claimed that the IRS, with the help of our banking system, could already track something like 75% of the financial transactions in the country. And that was 20 years ago.
Enter the Biden Crime Family.
You would think that those onerous IRS rules would apply to them as well, right?
Not so much…
CBS: “More than 150 transactions involving either Hunter or James Biden’s global business affairs were flagged as concerning by U.S. banks for further review.”
Meanwhile, the Biden White House has their heads in the sand: “We don’t comment on the laptop.”pic.twitter.com/1rujiMhJGf
— Steve Guest (@SteveGuest) April 7, 2022
150 flagged transactions. And no IRS investigation.
Still think the same rules apply to all of us?