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AFAIK only transactions over $10k are reported, maybe different between personal and business accounts?
by SoftTalker 1y ago
AFAIK only transactions over $10k are reported, maybe different between personal and business accounts?
- salawat 1y agoReporting to tax authorities by banks/financial institutions was bumped down to any receiving of an amount in excess of $600 during the Biden admin.
- SoftTalker 1y agoAh yes, I had forgotten about that. That's for "business" transactions, IIRC. I wonder how they distinguish....
- salawat 1y agoThey don't. It was targeted at screwing the poor rather than the rich.