Tax Question

itWASaDREAM · #1 08-05-2007, 01:44 AM

Im not sure which forum to post this in so I am trying this one as I assume most of the people browsing here will be knowledgeable.

basically I wanted to know if the government tracks money that I deposit into my bank or withdraw from an online source (i.e. epassporte.com)?

So if I withdraw 5k from my epassporte account will it be tracked or only if I deposit large sums into my bank account?

I am not trying to evade my taxes, at the moment I dont make enough to worry about it. Just curious as to what would happen.

emon87 · #2 08-05-2007, 02:48 AM

the IRS doesn't actviely track you, but if you got subjected to an audit they can and would look at everything. And the burden of proof is largely on you in tax court.

itWASaDREAM · #3 08-05-2007, 02:53 AM

thank you very much. Thats is what I had assumed but I wanted verification.
So thanks again.