Tax Resolution Attorney John P. Willis Talks About “Smurfing”, What It Is and How To Avoid Doing It.
Tax resolution attorney John Willis, CEO and founder of IRSALLSTAR.com alerts readers to the illegal activity known as “smurfing” which some businesses may be found guilty of doing by the IRS even though they had no idea they were doing anything illegal.
Fairhope, AL, December 16, 2014: Tax Attorney John Willis, CEO and founder of IRSALLSTAR.com, recently published a blog on his website about the activity known as “smurfing”. The blog, entitled “No Smurfing Allowed” explains what smurfing is and how unsuspecting businesses have had their assets seized even though they had no idea they were “smurfing.”
As Willis writes, “You may be smurfing without knowing it or even knowing what it is but smurfing is something to become aware of and avoid at all costs.” He elaborates, “’Smurfing’ or ‘structuring’ involves a series of cash deposits made in one day or a short period of time in which the individual deposits are less than $10,000 but add up to $10,000 or more. Pursuant to the Bank Secrecy Act of 1970, financial institutions are required to report “smurfing” and/or “structuring” banking activity to the U.S. Government by preparing and submitting specific forms.” That’s why, as Willis states, “You won’t see “No Smurfing” signs displayed in any bank or financial institution.”
Every financial institution in the country participates by law in the Bank Secrecy Act. As Willis points out in his blog, this act “requires financial institutions to cooperate with the U.S. Government by flagging accounts reflecting this (“smurfing”) type of activity.
The act was not designed to target ordinary citizens, but was, as Willis says, “Originally created as a way to track the cash of criminals such as drug traffickers and terrorists.” However, Willis goes on, “the IRS has recently turned their sights to average business owners. Once an account is targeted, the IRS can seize bank accounts and other assets in a process referred to as “civil asset forfeiture”.
The entire blog can be here.
ABOUT JOHN WILLIS
Mr. Willis believes strongly in supporting and representing the “underdog” and has devoted his entire professional life to protecting and defending those who need it most. As an attorney, Mr. Willis takes his role as “counselor” seriously. His knowledge, creativity and persistence are valuable assets that provide substantial benefits to his clients. He has represented individuals and businesses across the Gulf Coast for over 15 years and he brings together an abundance of skills and experience that can be of assistance to almost anyone.
ABOUT THE IRSALLSTAR TEAM
The IRSALLSTAR team has developed a winning formula to ensure that each client’s individual needs are specifically met. Upon becoming a client of Mr. Willis’ law firm, that client’s immediate needs are assessed and long-term goals are defined. Experienced professionals on the IRSALLSTAR team then assist each client in developing and implementing a custom-tailored game plan to provide both short-term and long-term relief from his or her serious tax problems. All firm clients are continually coached toward successful tax resolution and final victory over their challenges with the IRS and state taxing authorities. The entire blog can be found at http://www.irsallstar.com/blog/irs-tax-controversy-even-death-cant-stop-the-irs.php
To learn more about Mr. Willis and his law firm please visit http://www.IRSALLSTAR.com or call toll-free 877-254-4254.