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> does that get reported? Yes, absolutely. The same law that provides for banks reporting deposits and withdrawals over $10K also puts similar requirements on
by rootusrootus 5y ago
> does that get reported?
Yes, absolutely. The same law that provides for banks reporting deposits and withdrawals over $10K also puts similar requirements on retail establishments that accept payments that large.
- notch656a 5y agoAlthough in practice they're probably buying a $9k salvage truck in cash, then paying mechanics in cash to fix it up to be a $75k truck. The same thing happens with houses. Someone buys an absolute dumpster fire in cash. Then they pay contractors to fix it up nice, beautiful appliances, tiling etc. The house gets sold and the money ends up all in the white.