4 ms·
So out of curiosity, what if you run a business that just happens to generate $9K of cash regularly, for any reason? Are you supposed to risk keeping it on pre
by dale_glass 2y ago
So out of curiosity, what if you run a business that just happens to generate $9K of cash regularly, for any reason?
Are you supposed to risk keeping it on premises until enough adds up, or you should tell the bank to file a CTR, or something else?
- dzonga 2y agolike tax evasion laws -- they're like a joker card/ wildcard -- to law enforcement. to be played when they wanna arrest you. that's what mobsters get nabbed on, corrupt gvt officials etc. it's not difficult to prove anyone has tax evaded.
- mason55 2y agoIt’s not the $9k deposit that’s illegal, it’s structuring your deposits to avoid the $10k limit. The same actions can be legal or illegal depending on your in intent. In your example, the $9k deposits are perfectly fine. Although if you really always deposit $9k you’ll probably get some questions.
- refurb 2y agoYou’re at risk of some over zealous prosecutor accusing you of structuring.