Tim Scott Attempts to Rein in the IRS
True story: Right now the IRS can legally seize your property, and they don’t even have to meet any burden of proof of wrongdoing. Federal forfeiture laws allow the agency to seize assets from innocent people on the mere suspicion of malfeasance. If the IRS believes a citizen is structuring deposits to avoid reporting requirements, the agency can seize your money or property. Senator Tim Scott (R-SC) said no more. He and Senator Sherrod Brown (D-OH) introduced bipartisan legislation last week to reign in the revenue agency. The Restraining Excessive Seizure of Property through Exploitation of Civil Asset Forfeiture Tools Act would ensure that the IRS explicitly demonstrate probable cause prior to seizing assets. The measure would generate more transparent avenues for business owners and individuals to defend themselves against any wrongdoing, and enable them to retrieve their property back from the IRS. “The Internal Revenue Service is one of the many parts of our government that has grown too large and needs to be reined in,” said Scott. “In no way should the IRS be allowed to seize Americans’ property without first being able to prove its necessity. Time and time again, we see that the IRS has gone above and beyond its purview destroying homeowners, small businesses and their employees. This change needs to happen now.” According to data analyzed by the Institute for Justice, in 2017 alone, the Justice and Treasury departments deposited nearly $4.2 billion dollars in forfeited funds into federal accounts. More here.