Tyler Bass
Forbidden Knowledge TV
May 15, 2015
Randy Sowers claimed that, in order to avoid the hassle of paperwork, his bank teller advised him to bring in the cash his creamery was raking in at farmers’ markets in amounts under $10,000. That decision allowed the bank and Sowers to avoid the trouble of filing suspicious activity reports or Form 8300s; but ended up costing Sowers and his Maryland small business $30,000 after settling with the Internal Revenue Service for “structuring,†or “smurfing,†deposits. Lawmakers legislated against deposit structuring to deter tax evasion, a crime with which the IRS never charged Sowers.
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