Federal Government Charges Iowa Widow Over How She Deposited Husband’s Cash

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An Iowa widow is charged with a crime and had nearly $19,000 seized from her bank after depositing her late husband’s legally earned money in a way that evaded federal reporting requirements.

Janet Malone, 68, of Dubuque, is facing civil and criminal proceedings under a law intended to help investigators track large sums of cash tied to criminal activity such as drug trafficking and terrorism. But some members of Congress and libertarian groups have complained that the IRS and federal prosecutors are unfairly using it against ordinary people who deposit lawfully obtained money in increments below $10,000.

At issue is a law requiring banks to report deposits of more than $10,000 cash to the federal government. Anyone who breaks deposits into increments below that level to avoid the requirement is committing a crime known as “structuring” — whether their money is legal or not.

(Read the rest of the story here…)

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1 thought on “Federal Government Charges Iowa Widow Over How She Deposited Husband’s Cash”

  1. The IRS has apologized for taking the money of so many individuals with the 10,000 dollar rule.
    No where in the article does it say they have begun to return the money.

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