RESPECT Act Seeks to Limit IRS Enforcement With Civil Forfeiture Tools.

The Restraining Excessive Seizure of Property Through the Exploitation of Civil Forfeiture Tools Act, introduced by Ways and Means Tax Policy Subcommittee Chair Peter J. Roskam, R-Ill., and committee member Joseph Crowley, D-N.Y., seeks to protect small business owners from having their assets wrongly seized by the IRS under civil asset forfeiture policies.

See Joint Committee Report summary and amendment by clicking here.

Posted by Lewis J. Saret, Co-General Editor, Wealth Strategies Journal.