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That’s known as “structuring” and is illegal: https://en.m.wikipedia.org/wiki/Structuring https://en.m.wikipedia.org/wiki/Structuring
by profquail 7y ago
That’s known as “structuring” and is illegal:
https://en.m.wikipedia.org/wiki/Structuring https://en.m.wikipedia.org/wiki/Structuring
- Ajedi32 7y agoThis conversation reminds me of https://xkcd.com/1494/ https://xkcd.com/1494/
- SkyBelow 7y agoAnd yet you can hire a lawyer who can show you similar looking loopholes that are completely legal. Structuring to avoid taxes is illegal but the double Irish method isn't? There are many other such loopholes and telling the legal from the illegal appears mostly arbitrary.
- EGreg 7y agoI was always wondering why no one steals luggage at the airport. You can walk in and take stuff!
- ianai 7y agoAh, but how often is that law enforced? And is it easily enforced? This seems ever increasing in importance nowadays.
- jki275 7y agoIt's certainly enforced, you'll see it often in money laundering cases where people have tried to deposit funds just under the 10k reporting limit.
- stanferder 7y agoIt's enforced so often that people who aren't even trying to circumvent the law get nailed: https://www.forbes.com/sites/robertwood/2017/04/05/91-of-irs-seizures-for-structuring-involve-lawful-taxpayers https://www.forbes.com/sites/robertwood/2017/04/05/91-of-irs...