IRS Changes in Forfeiture Policy

On October 17, 2014, the IRS Criminal Investigation Division, the agency involved in investigating forfeiture structuring cases, changed its policy. Its new policy states that the IRS will no longer pursue the forfeiture of funds where structuring is the only alleged illegal activity, unless there are exceptional circumstances.

Structuring occurs when an individual makes bank account deposits in amounts just below $10,000, to avoid the government reporting requirements. Regulations were developed to deter cash transactions from criminal conduct, however the IRS has proven to be hypersensitive in administering this law, and countless innocent people’s bank accounts have been seized simply because of the amounts of their deposits.

Shockingly, several weeks ago, the IRS sent notices to people who had an interest in seized property due to structuring between October 1, 2009 and October 17, 2014 telling the individuals that they may be entitled to the return of property. In addition, people whose assets were seized before October, 2009 can also contact the IRS to see if they are eligible for return of their seized property. If you believe you may be entitled to a refund under these circumstances, please contact me at (248) 799-9100, or email me at JORINRUBIN@COMCAST.NET