New policy limits government seizures of small businesses' bank accounts

The federal government will no longer seize the assets of small businesses just because they’re suspected of structuring cash deposits to avoid reporting requirements. That’s a victory for small businesses in cash-intensive businesses. Last month, three small business owners testified before a House committee about the nightmare they experienced when the Internal Revenue Service seized their bank accounts. The IRS suspected them of structuring their cash deposits to avoid the $10,000 threshold…