URGENT: IRS Confiscates Nearly $1M From Navy Vet’s Bank Account For DISTURBING Reason
The Obama administration just can’t seem to stay away from scandals — especially when it comes to the IRS. That agency has already been accused of singling out conservative groups for audits. Now, it seems that they might have new target: Veteran owned gun stores.
Andrew Clyde is one of those veterans. He was a member of the Navy and served in Iraq, but calls Georgia his home. Clyde has run a small gun shop in the city of Athens for over a decade.
The Navy veteran’s IRS nightmare started around two years ago. In 2013, the IRS put his store in their crosshairs and seized close to a million dollars from Clyde’s bank account.
There was one major problem: Andrew Clyde hadn’t done anything wrong.
The IRS seized the money because they suspected that the veteran could possibly be involved in criminal activity.
However, it was only a suspicion. The agency had no actual proof that Clyde was doing anything illegal.
According to Fox News, the seizure was triggered by something called “structuring.” Under the Bank Secrecy Act, a financial institution is required to report any cash deposits that are over $10,000.
Many criminals are aware of that law, so they sometimes make deposits that are just under the $10,000 threshold to get around the rule. That is called “structuring,” and it’s exactly what Clyde was accused of — except he reportedly had a legitimate reason for the deposits.
“While most transactions at Clyde Armory are not in cash, the Sandy Hook school shooting in Newtown, Conn., and the potential for new firearms laws, drove sales,” reported Fox.
“Clyde’s business made millions of dollars, about 15 percent of it in cash transactions. Clyde’s business manager made daily deposits, and based on the dollar value of his insurance policy — capped at $10,000 — the company policy was to not ever hold more than $10,000 cash.”
In simple terms, the IRS went after the gun store simply because it regularly deposited its legally-earned money into its own bank account.
Clyde is one of many small business owners who recently spoke out against the frustrating practice.
“I did not serve three combat tours in Iraq only to come home and be extorted” by the government, Clyde said during a Congressional hearing.
It seems that to the Obama administration, all of your money belongs to them.
They have repeatedly shown a willingness to go after any individual or group that they don’t like, and use any method available to ruin someone’s life.
This needs to stop. Please share this article on Facebook if you’re outraged by a government that treats the people like peasants, instead of respected citizens!