The last thing any small business owner wants to do is spend time dealing with the IRS. Unfortunately, IRS disputes can be stressful, time-consuming, and expensive. And if you own a small business, the last thing you need in your life is more stress and more expense!
The last thing any small business owner wants to do is spend time dealing with the IRS. Unfortunately, IRS disputes can be stressful, time-consuming, and expensive. And if you own a small business, the last thing you need in your life is more stress and more expense!
Considering how important small businesses are to the US economy, it would make sense for the government to do everything that they can to support business owners, rather than make life more difficult.
Unfortunately, this isn’t the case, and horror stories like the one we are about to share are all too common. Forbes.com reports:
Imagine heading to your bank to make a withdrawal and finding it empty.
Next imagine finding out that your identity hasn’t been stolen, your banking information hasn’t been compromised, but rather the federal government has emptied your account. On purpose. And there’s nothing you can do about it.
That’s what happened to Terry Dehko and his daughter. The Dehkos own a small grocery store in Fraser, Michigan, a city of less than 15,000. It’s a family run business that the Dehkos have run since 1978.
In January, the federal government seized all of the money that the Dehkos had in their store bank account. The reason? The federal government alleges that the Dehkos were violating federal money-laundering rules. They were accused of structuring their deposits in order to avoid being subject to bank reporting rules.
The article goes on to explain that the Dehkos were apparently doing nothing wrong and that their pattern of bank deposits was due to safety concerns and insurance liability matters.
Can you imagine if this happened to you? You’re running your business, playing by the rules, paying your taxes—and all of a sudden you’ve got no money in your bank about because the government seized it. It’s a shocking story, but unfortunately similar scenarios take place each and every year. The IRS has tremendous power, and isn’t afraid to use it—even when they are clearly in the wrong.
If you’re facing an IRS dispute, the good news is that we can help. We’ll deal with the IRS so that you can go back to running your business and enjoying your life. Contact us today to learn more!