Neteller and the IRS

[DING-DONG YO]

[ QUOTE ]
A question about SARs and structuring. I pay all my taxes honestly. However, due to the neteller $5K EFT limit, i have a bunch of $5k EFTs into my bank instead of one larger one. Am i doing anything wrong or breaking any law? Can i possibly be accused of structuring even though I report and pay taxes on all my winnings?

[/ QUOTE ]

If you pay all your taxes and can tie all your activity to your tax return, don't worry about structuring. Tax evasion is illegal.

I don't think structuring is illegal. It is a tool people who are committing tax fraud use. therefore, the government looks for structured transactions as a guide on who to investigate for tax evasion. That doesn't mean that everyone who appears to be "structuring" transactions is evading taxes. But it does mean that if your transactions appear to be "structured", you run a higher risk of being audited.

As long as you're paying and can back up your records, I wouldn't worry about it. You get audited, you get audited.