The Daily Signal:”14 years ago, McLellan decided to try his hand at the family business and purchased his own store in the heart of the Bible Belt, naming it L&M Convenience Mart. . . . What McLellan didn’t know, though, was that the federal government could come in and take away what he’d worked so hard for.
On a summer day last July, McLellan, who hadn’t yet arrived at the store, received a phone call from one of his employees summoning him to L&M. More than a dozen federal agents had flooded into his business—officers from North Carolina’s Alcohol and Law Enforcement, the local police department and the Federal Bureau of Investigation—and they were asking for him. . . .
The federal agents then showed McLellan paperwork that included deposits to the store’s account at Lumbee Guaranty Bank. The statements showed two deposits made within a 24-hour period totaling $11,400. The statements, they said, indicated he had a history of consistent cash deposits of less than $10,000, which is illegal. Then, the agents told the small business owner something that shook him to his core: The Internal Revenue Service had seized all of the money in L&M’s bank account: $107,702.66.”
Update: See “IRS Refunds $107,000 It Lifted from Business Man.”