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No, people assume safe deposit boxes are secure so they don't pay for insurance. There are no taxes on assets, or requirement to report them to the government.
by justincormack 11y ago
No, people assume safe deposit boxes are secure so they don't pay for insurance. There are no taxes on assets, or requirement to report them to the government.
- MichaelApproved 11y agoI'm speculating that they earned money without reporting it and then used that money to purchase those assets. The gov't doesn't tax the asset you own but it would be interested in knowing if you reported the income that you used to purchase the asset.