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<p>[QUOTE="imrich, post: 3252123, member: 22331"]Many banks monitor regular "Cash" deposits/withdrawals, and report same to IRS in conformance with the "Structuring" law. You should probably review same for enlightenment. Institutions are REQUIRED to report $10,000 transactions.</p><p><br /></p><p>I'm sad to say I've been intimately involved with this IRS structuring subject!</p><p><br /></p><p>Quote: How much cash can you deposit before it is reported to the IRS?</p><p>All you have to do to capture the IRS' attention is make multiple large deposits that <u><b>are less than</b></u> <b>$10,000</b> in your account. Banks that get deposits of more than <b>$10,000</b> have to report those deposits to the federal government.</p><p><br /></p><p>I believe you'll find it needn't be large amounts, but merely a "consistency" (unstated frequency/amount/number) of cash transactions which will initiate a bank report of "Structuring" activities! A singular action may initiate a filing. I initially purchased an item on eBay with a price >$10,000 and PayPal required two deposits <$10,000, that initiated an inquiry. The banks are forbidden, under penalty of law, to answer any filing questions!</p><p><br /></p><p>"BIG BROTHER" is watching![/QUOTE]</p><p><br /></p>
[QUOTE="imrich, post: 3252123, member: 22331"]Many banks monitor regular "Cash" deposits/withdrawals, and report same to IRS in conformance with the "Structuring" law. You should probably review same for enlightenment. Institutions are REQUIRED to report $10,000 transactions. I'm sad to say I've been intimately involved with this IRS structuring subject! Quote: How much cash can you deposit before it is reported to the IRS? All you have to do to capture the IRS' attention is make multiple large deposits that [U][B]are less than[/B][/U] [B]$10,000[/B] in your account. Banks that get deposits of more than [B]$10,000[/B] have to report those deposits to the federal government. I believe you'll find it needn't be large amounts, but merely a "consistency" (unstated frequency/amount/number) of cash transactions which will initiate a bank report of "Structuring" activities! A singular action may initiate a filing. I initially purchased an item on eBay with a price >$10,000 and PayPal required two deposits <$10,000, that initiated an inquiry. The banks are forbidden, under penalty of law, to answer any filing questions! "BIG BROTHER" is watching![/QUOTE]
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