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Posted on 7/15/22 at 11:48 am to bdavids09
Just updating: I was just overthinking everything, I guess. I asked the bank if I could deposit a large amount of cash and they said sure. I Deposited the full amount, and they did not care at all.
Posted on 7/15/22 at 12:09 pm to SalE
quote:
I think any amount withdrawn from an atm more that $100.00 is flagged..
Have you thought about how long it would take to review every single cash withdrawal of $100 or more?
Posted on 7/15/22 at 2:04 pm to jchamil
I mean they have been pretty clear about the whole $600 threshold
however
this is reporting requirements for banks and related industries ... let's not forget that the Feds can decide to investigate your banking activites - or hell freeze them - whenever the hell they want
so there's always that
however
this is reporting requirements for banks and related industries ... let's not forget that the Feds can decide to investigate your banking activites - or hell freeze them - whenever the hell they want
so there's always that
Posted on 7/15/22 at 5:12 pm to bdavids09
Take a cruise to the Grand Cayman and open an account in one of the banks there.
Posted on 7/15/22 at 5:20 pm to bdavids09
quote:
Just updating: I was just overthinking everything, I guess. I asked the bank if I could deposit a large amount of cash and they said sure. I Deposited the full amount, and they did not care at all.
If it was over 10k, they did make a filing or they violated the law and risk penalties when audited..so they made a filing
Posted on 7/15/22 at 5:24 pm to bdavids09
quote:
Just updating: I was just overthinking everything, I guess. I asked the bank if I could deposit a large amount of cash and they said sure. I Deposited the full amount, and they did not care at all.
Umm. Do you know what a bank is? Did you expect them to possibly say "hey bro! no we don't take money here"
Posted on 7/16/22 at 7:38 pm to bdavids09
quote:
Just updating: I was just overthinking everything, I guess. I asked the bank if I could deposit a large amount of cash and they said sure. I Deposited the full amount, and they did not care at all.
Nobody said you can’t deposit the money at once, just that it will almost certainly be reported
I don’t think you asked the question you thought you did, my friend
Posted on 7/16/22 at 8:26 pm to DallasTiger45
Why do you care if it was reported while we are at it?
No judgement just who cares
Didn't Biden admin want everything more than $500 reported
No judgement just who cares
Didn't Biden admin want everything more than $500 reported
This post was edited on 7/17/22 at 9:38 am
Posted on 7/17/22 at 9:08 am to bdavids09
$10K.
Posted on 7/17/22 at 12:13 pm to bdavids09
Spreading out large deposits will get you flagged a hell of a lot faster than one large deposit
Just deposit it all at once you have nothing to hide
Just deposit it all at once you have nothing to hide
Posted on 7/17/22 at 1:03 pm to leeman101
quote:
Take a cruise to the Grand Cayman and open an account in one of the banks there.
This is how civil asset seizures happen
Posted on 7/19/22 at 9:40 am to thelawnwranglers
Just now hopping In .
$30k , heck just put it in your night stand. That’s 5 months of expenses for me and my family.
$30k , heck just put it in your night stand. That’s 5 months of expenses for me and my family.
Posted on 7/19/22 at 10:44 am to I Love Bama
quote:
Do you know what a bank is? Did you expect them to possibly say "hey bro! no we don't take money here"
My wife has her individual account at Chase.
Chase will not accept me going to put cash into her account.
Chase will me going to put a check into her account, or cash via the ATM if I have her debit card.
Posted on 7/19/22 at 12:26 pm to LSUFanHouston
2 things I hate the most:
1. The IRS
2. DA offices
1. The IRS
2. DA offices
Posted on 7/19/22 at 12:50 pm to TDTOM
I thought the threshold for questioning a deposit was $10K, but found out from a banker friend they even question down to $6K. For that reason I deposited $5,800 recently and then a few weeks later received a call from my bank asking where the money came from. I informed them it was just money I had in my safe at home and the total was getting too large so I decided to deposit most of it. They didn't ask anything else, but I thought it was odd they would question such a low amount.
*Edited to say*
I asked why they were questioning it and she replied they were required to ask for the Federal Government.
*Edited to say*
I asked why they were questioning it and she replied they were required to ask for the Federal Government.
This post was edited on 7/19/22 at 12:51 pm
Posted on 7/19/22 at 1:16 pm to TIGERSby10
quote:
For that reason I deposited $5,800 recently and then a few weeks later received a call from my bank asking where the money came from. I informed them it was
Seriously would of told my bank to get fuked if that happened.
Posted on 7/19/22 at 3:47 pm to j1897
quote:
just pay your taxes. Our country is fricking broke.
Screw that. I’ll pay my taxes. But I try like hell to pay as little as legally required
We don’t have a revenue problem we have a spending problem. They spend more than we give no matter if we give more.
That said I doubt the OP owes much if any tax on this transaction.
Posted on 7/19/22 at 4:16 pm to bdavids09
DO NOT spread out your deposits so that they’re under $10k each. That’s structuring, it’s illegal, and you can be convicted of it even if your cash was legally acquired and you had no ill intent. Just deposit your cash like you would if it was $3000 rather than $30,000.
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