Re: Legality and Withdrawl
That's not it.
If you bring the $12k over, do not report it on your income and the IRS notices, they will bill you for taxes due plus interest and penalties. You say "opps, forgot (or didn't know I had to)" and pay up, or set up a payment plan and all is OK. Actually you don't even have to explain why you omitted that income if you agree to pay.
However, if you bring the money over in several small amounts, don't claim the income and they catch you, your actions show intent, and that's why structuring is treated more harshly.
If you claim it and pay in a timely manner, you're in compliance and how you brought the money over is irrelevant.
Remember, the primary job of the IRS is to get the money. They are not an arm of the DOJ.
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