Trump Signs Off On Law To Protect Tax Payers From The IRS
Trump has signed in a new law that will force the IRS to be held accountable for their actions. “The Taxpayer First Law” will make their actions more transparent, the IRS will no longer be able to seize money from accounts without showing their justifications. They will be forced to allow for hearings and even appeals.
This new law came about after the IRS seized nearly half a million from the Hirsh brothers.
“The Internal Revenue Service seized $446,000 from the bank accounts of brothers Jeffrey, Richard, and Mitch Hirsch in 2012, claiming a “structuring” violation against the owners of Bi-County Distributors Inc. for making multiple bank deposits of less than $10,000.
The government never charged them with a crime, nor gave them a hearing to enable them to contest the seizure, but after intense national media attention to the case, the government returned the funds.
The case was among many that highlighted an abuse by IRS agents known as legal source structuring that allowed the tax collection agency to use a law, the Bank Secrecy Act, intended to combat money laundering, to seize assets.
President Donald Trump signed a bipartisan bill Monday to force greater accountability on the IRS in the property seizures, as well as protect taxpayers from identity theft, boost whistleblower protections, and modernize the tax agency.”
“We just finished signing, the important signing, of the Taxpayer First bill, the IRS Taxpayer First, which is a tremendous thing for our citizens having to deal with the IRS,” Trump told reporters after the signing. “It streamlines and so many other changes are made. That was just done and signed. It’s been made into law. So we are all set on that.”
This should have been done long ago. This a great new law that cuts back on the IRS’s power and forces them to listen to taxpayers.
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