U.S. Representatives Peter J. Roskam (R-IL) and Joseph Crowley (D-NY) are continuing their efforts to rein in asset forfeiture abuse. According to Roskam, over 3/4 of people who have their assets improperly seized by the IRS do not get them back. Currently, the IRS seizes assets from any bank accounts it deems as having "suspicious" activity. This practice is known as "structuring."
Roskam's bill would "... prohibit the Internal Revenue Service from carrying out seizures relating to a structuring transaction unless the property to be seized derived from an illegal source or the funds were structured for the purpose of concealing the violation of another criminal law or regulation, to require notice and a post-seizure hearing for such seizures..." House Committee Report
The House voted unanimously to pass a similar bill in 2016. The bill passed the House again in 2017, but has been sitting in the Senate Committee on Finance since last September.
I wonder why the Senate will not act on the IRS inappropriately taking assets?
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