|
Banks are required by law to report cash transactions exceeding $10,000. There are certain exceptions based on the relationship the customer has with the bank. That is, many businesses that routinely make large deposits can be placed on an exemption list as routinely filing reports would serve no purpose.
|
www.bankingquestions.com/checkingaccounts/q_largedeposi...
www.bankingquestions.com/checkingaccounts/q_largedeposit.html
|
|
|
|
Anytime youre paid too much cash, they want you to report the buyer to the IRS. After all, too much cash makes the buyer a suspected drug dealer. Now the fun begins. If you fail to report the cash transaction to the IRS, youre assumed to be in cahoots with a bad guy, and you can go to jail for money laundering.
|
moneycentral.msn.com/content/Taxes/P69839.asp
|
|
|
Yes, since the Form 8300 contains the name, address, contact telephone number of the filer, aggregate amount of reportable cash received and informs the noticee that the paryment(s) are being reported to the IRS, the Form 8300 would be acceptable as written notification. However, if during the calendar year,
|
www.irs.gov/businesses/small/article/0,,id=148821,00.ht...
www.irs.gov/businesses/small/article/0,,id=148821,00.html
|
|
The law requires that trades and businesses report cash payments of more than $10,000 to the federal government by filing IRS/FinCEN Form 8300, Report of Cash Payments Over $10,000 Received in a Trade or Business (See Exhibit 1, Form 8300). ;
|
www.irs.gov/businesses/small/article/0,,id=159755,00.ht...
www.irs.gov/businesses/small/article/0,,id=159755,00.html
|
|
The bank can't give you info like that, but he knew to make two deposits like 6,000 each, I beleive. ... My brother works for a bank. Any cash deposit over 10 grand must be reported to the IRS, by law.
|
www.freerepublic.com/focus/fr/1421137/posts
|
|
They also said that large cash deposits into a bank account had to be reported by the bank to the inland revenue in case of money laundering. Anyone know if this is true? Thanks to anyopne who replies. imd123 (Fri 22:36 08/Sep/06)
|
www.theanswerbank.co.uk/Business-and-Finance/Question28...
www.theanswerbank.co.uk/Business-and-Finance/Question289010.html
|
|
mel...
|
catsartstudio.com/yufum/reported.php
catsartstudio.com/yufum/reported.php
|
|
Soon, they were being investigated by Internal Revenue Service criminal agents and paying Chicago attorney Robert E. McKenzie $500-plus an hour to help them avoid seizure of their cash or worse. Carving up deposits to avoid a currency report is "structuring." Structuring is a felony.
|
www.forbes.com/forbes/2008/0407/038.html
|
|
> IRS if cash deposit is at least $10,000. How about withdrawl? Yes. Any cash transaction, or series of cash transactions, gets reported. > If u withdrawl more than $10,000 at one time, will it get reported to; > IRS? ... what if the cash deposits were done in smaller amounts, over a longer time period. are they reported?
|
www.accountantforums.com/cash-deposit-withdrawl-and-rep...
www.accountantforums.com/cash-deposit-withdrawl-and-reporting-irs-t37582.html
|
|
