Happy Holidays: The IRS Gave The Money Back

Just in time for the holiday season, the IRS gave a restaurant owner named Carole Hinders, of Iowa, back the money that they had confiscated last year, because it looked as if she was attempting to manipulate the amounts of her bank deposits in order to skirt banking laws. Her bank deposits were often just a little bit shy of $10,000; and it looked as if she was manipulating them, or "structuring" them, in order to avoid creating records. Often, this is associated with money laundering and is done by drug dealers. Carole Hinders wasn't involved in either.

The Internal Revenue Service was unable to prove intent, and actually gave her money back to her last week. Luckily, Hinders had support and representation; hopefully, small business owners can learn from this.