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Topic	During reno, you find $100k in cash. Do you have to pay taxes on this?
IdiotMachine 04/11/21 6:09:51 PM #24:	Smashingpmkns posted... $10k a week. And they don't report it to the IRS they add a flag to your account in case you are under investigation by the IRS and the bank is questioned about your account. There's no reason you'd need to deposit more than even $5k a week if you came into this much money at once. No, they report it: https://www.occ.treas.gov/topics/supervision-and-examination/bsa/index-bsa.html Under the Bank Secrecy Act (BSA), financial institutions are required to assist U.S. government agencies in detecting and preventing money laundering, such as: File reports of cash transactions exceeding $10,000 (daily aggregate amount) --- https://imgur.com/XNEdLrJ <cite>IdiotMachine posted [p:952722891] in During ren... [t:79400131]...</cite> <quote>Smashingpmkns posted... </cite> <quote>$10k a week. And they don't report it to the IRS they add a flag to your account in case you are under investigation by the IRS and the bank is questioned about your account. There's no reason you'd need to deposit more than even $5k a week if you came into this much money at once.</quote>No, they report it: https://www.occ.treas.gov/topics/supervision-and-examination/bsa/index-bsa.html <quote>Under the Bank Secrecy Act (BSA), financial institutions are required to assist U.S. government agencies in detecting and preventing money laundering, such as: File reports of cash transactions exceeding $10,000 (daily aggregate amount)</quote> --- https://imgur.com/XNEdLrJ</quote> ... Copied to Clipboard!
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