Do you own a dog? You could face six months in federal prison if you walk it on federal lands and your leash is longer than six feet.
Do you have a bank account? If you deposit or withdraw more than $10,000 in cash over multiple transactions, you could be imprisoned for up to five years. Plus, they could take every penny in the account, under the theory it “facilitated” your crime.
Do you have foreign investments? Neglect to tell Uncle Sam about them, and the penalties will be brutal. Forget to file just one form? You could face a $10,000 penalty per account per year.
There’s no requirement that you know any of these crimes exist for you to be found guilty of violating them. After all, “Ignorance of the law is no excuse.”
Given this, you might think Uncle Sam would make it easy to understand exactly what’s legal and what’s not. Think again. Read more.