February 17, 2016
Small businesses still fighting for cash seized by IRS
The business operations of a drug dealer or a terrorist have little in common with a Maryland dairy farmer.
But in a bizarre business tale, the IRS in February 2012 seized nearly $63,000 from a pair of dairy farmers after a series of cash deposits came under scrutiny due to federal laws.
Those rules were intended to target criminals including money launderers, who deposit large amounts of cash in increments of less than $10,000 to evade authorities.
In a prior settlement with the government, Randy and Karen Sowers, who own South Mountain Creamery in Middletown, Maryland, got back a portion of the seized money, around $33,500. More
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Posted by Staff at Wednesday, February 17, 2016