You are definitely overstating it. The bank is required to keep records and file paperwork (i.e., inform the IRS) on deposits of over $10,000, but other than th

You are definitely overstating it. The bank is required to keep records and file paperwork (i.e., inform the IRS) on deposits of over $10,000, but other than that, nothing happens. I regularly receive large deposits from my place of employment that exceed $10,000. I file taxes just like every other person each year. Shoot, I've received refunds from the IRS that exceed that amount.