To: Nik Naym
Sort of like giving you a speeding ticket for driving a few mph under the limit because you were intentionally trying to not exceed the speed limit. Not quite. It's illegal to exceed the speed limit.
It's NOT illegal to deposit more than $10k. It's just that the bank has to report it.
12 posted on
11/18/2013 6:14:19 AM PST by
Izzy Dunne
(Hello, I'm a TAGLINE virus. Please help me spread by copying me into YOUR tag line.)
To: Izzy Dunne
Good point but the insurance policy at the store would not cover theft about #10K. Thus the deposits to make sure if the store was robbed they had an insurable amount that would be covered. The IRS follows Roman law. You have to prove yourself innocent.
19 posted on
11/18/2013 6:48:30 AM PST by
prof.h.mandingo
(Buck v. Bell (1927) An idea whose time has come (for extreme liberalism))
To: Izzy Dunne
I don’t think the grocers cared if the Bank reported the >$10K transactions to the IRS. Their insurance policy required them to have <$10K at the store, so that was the reason for all the transactions that fell just short of $10K. The IRS just assumes such activity is to skirt their rules.
31 posted on
11/18/2013 7:20:33 AM PST by
Cyber Liberty
(We're At That Awkward Stage: It's too late to vote them out, too early to shoot the bastards.)
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