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#1
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OT: Possibly real version of the cash-out curse - IRS
I was rereading some of the Barry G. book yesterday when he mentioned being investigated by the IRS for the crime(?) of "structuring," which was depositing just under $10k in his bank repeatedly in an effort to hide it from the IRS.
He didn't get into trouble. Obviously, I know next to nothing about this, just thought there might be a few structurers around here who might be interested. |
#2
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Re: OT: Possibly real version of the cash-out curse - IRS
I think it's because banks have to contact the irs on all deposits >10k by depositing $9900 they don't have to. I only know this because of the Sopranos.
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#3
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Re: OT: Possibly real version of the cash-out curse - IRS
[ QUOTE ]
I think it's because banks have to contact the irs on all deposits >10k by depositing $9900 they don't have to. I only know this because of the Sopranos. [/ QUOTE ] i love that episode where carmela goes to the bank with a deposit of like $9800. Indy |
#4
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Re: OT: Possibly real version of the cash-out curse - IRS
[ QUOTE ]
I think it's because banks have to contact the irs on all deposits >10k by depositing $9900 they don't have to. I only know this because of the Sopranos. [/ QUOTE ] Banks are also required to notify the IRS of any activity that looks like an attempt to get around that regulation, like repeated deposits of $9000+. |
#5
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Re: OT: Possibly real version of the cash-out curse - IRS
So then what's amount to structure if you don't want to be accused of structuring? YouknowudImean?
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#6
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Re: OT: Possibly real version of the cash-out curse - IRS
[ QUOTE ]
So then what's amount to structure if you don't want to be accused of structuring? YouknowudImean? [/ QUOTE ] I wouldn't try to fool the IRS if I were you. It wouldn't be very keen. |
#7
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Re: OT: Possibly real version of the cash-out curse - IRS
fivk?
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#8
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Re: OT: Possibly real version of the cash-out curse - IRS
[ QUOTE ]
fivk? [/ QUOTE ] the crow flies at dawn when the eagle reads the morning paper |
#9
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Re: OT: Possibly real version of the cash-out curse - IRS
Well I never.
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#10
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Re: OT: Possibly real version of the cash-out curse - IRS
Your decoder ring is malfunctioning.
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