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<p>[QUOTE=&quot;John Burgess, post: 8160549, member: 105098&quot;]my opinion, no. Money in/money out/money in isn&#039;t a problem, your reported income is what it is, mystery money showing up that&#039;s clearly unreported income come tax time is what they are looking for, the off the books side gigs in cash that go unreported. </p><p><br /></p><p>and that was a proposal, I don&#039;t think congress actually passed it as it was (not sure). I do know it would apply to like Venmo, Cashapp, Zelle, Paypal and the likes, mobile payment apps, to catch people that are operating a business without being a business or reporting the income. but I don&#039;t think it applies to banks. I think banks are sitting with the $10K limit as was before, BUT there is more IRS enforcement ability granted to that. looking for off the books wire transfers and things from foreign accounts. </p><p><br /></p><p>Not really sure, but I don&#039;t think it passed as it was and this is how it&#039;s going to work instead.[/QUOTE]</p><p><br /></p>

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