If you had cash seized by the IRS, you may be able to now get it back.
The IRS recently told the House Ways and Means Oversight Subcommitee that it will send out letters to everyone the agency seized money from for alleged structuring violations. These violations involved making consistent cash transactions of just under $10,000 to avoid IRS reporting requirements. These letters are going out for seizures since October of 2009.
According to sources, these letters will cover approximately 700 cases. Those involved will have the opportunity to file petitions for remission or mitigation with the IRS. Once petitions are filed, the IRS will review them and determine if the petitioner qualifies to get some or all of their money back.
Filing a Petition with the IRS
If you have had money seized by the IRS, you may be entitled to get it back. Freeman Tax Law has decades of experience handling tax cases, and dealing directly with the IRS. If you would like a free, confidential consultation to discuss your tax situation, please give us a call.