* Tax practitioners who are requested to prepare required BSA reports or IRS forms (e.g., currency transaction reports or Forms 8300
Bale wants its money back and an order stating that the company didn't "intentionally disregard" its obligation to file the four Forms 8300
According to the alleged indictment attached to their letter, "Alexandra Bliss a/k/a Bliss Alexandra" signed "fraudulent IRS forms 8300
" in Dec 1999, more than five years ago.
As part of their pitch, the agents asked the Schlaens to not file IRS forms 8300, which would have otherwise alerted the government to each of the eight cash purchases in excess of $10,000.
The customer wants to avoid the filing of forms 8300 and "smurfed" funds aren't held for long periods of time in accounts.
Forms 8300 are collected by the IRS Detroit Computing Center and the information contained therein is entered into a data base.
Quite often attorneys will file Forms 8300 without disclosing their clients' identities, claiming that the attorney-client privilege prohibits such disclosure.
One area of risk relates to failing to establish record keeping systems to report certain transactions (regardless of their nexus to a crime) via Forms 8300. The second area of risk is promoted when a company fails to establish an early detection system that will identify suspicious transactions and trigger an appropriate response within a company.
These thirty-five employees of primarily computer distribution companies, including Command Systems, Wescom, New Miami Wholesale, Nexel, Daisytek, L&M, SDA Systems, and SED, were indicted for their roles in failing to file Forms 8300 and/or knowingly accepting proceeds of a crime with the intent to conceal or disguise the source of the funds (Money Laundering).