what amount can be withdrawn from a bank account ...

[bigsportsguy2006]

and not get flagged by the IRS? anyone know? i believe it use to be anything over 10,000 gets flagged. is this amount still the same? i did a quick google search, but found conflicting things. anyone know for sure here? would appreciate it, thanks fellas

[Bobtheicon]

Why would any amount get flagged? And so what if it did? I'd think if it's in a bank account then taxes have already been paid on it. Maybe I've never had enough for it to be an issue.

[cuse_man]

Originally Posted by Bobtheicon

Why would any amount get flagged? And so what if it did? I'd think if it's in a bank account then taxes have already been paid on it. Maybe I've never had enough for it to be an issue.

[westcoastO]

Originally Posted by Bobtheicon

Why would any amount get flagged? And so what if it did? I'd think if it's in a bank account then taxes have already been paid on it. Maybe I've never had enough for it to be an issue.

yeah but how did the money get in the bank account, what's to say taxes were paid on it?

[Bobtheicon]

Oh, okay. Thanks. But why you would keep dirty money in a bank account?

[bigsportsguy2006]

bob, not only that but they want to ensure that any big withdraw that is used to purchase something else is taxed as well. it works both ways. i've been very fortunate lately and up a lot of $$ and my local asked if i knew what the max was. i know it used to be $10,000 i just wanted to ensure it hadnt changed

[ZoomVT]

Disguised brag post from bsg

[cuse_man]

Originally Posted by Bobtheicon

Oh, okay. Thanks. But why you would keep dirty money in a bank account?

If they didn't flag it or have access to it.. why wouldn't you ?

[Chicago RED]

Any transaction under 10k should keep you in the clear.

[Beep]

Types
# There are two main reporting requirements for banks. The first and most common, with more than 15 million being filed in calendar year 2007, is the currency transaction report, or CTR. These are triggered simply because of the size of the transaction. The second type is called a suspicious activity report, or SAR, and is filed when the bank "knows, suspects, or has reason to suspect" that a transaction of at least $5,000 involves money derived from illegal activities or is part of a plan to violate federal laws and financial reporting requirements.
Size
# A CTR is required for every deposit, withdrawal or exchange over $10,000 in cash. Wire transfers or transactions by check and non-cash means are not subject to the CTR filing requirement. The requirements apply to all accounts, whether individual, group or corporate, regardless of their size. Banks are also required to aggregate all cash transactions made by or on behalf of an account on the same business day and at all branch locations. Transactions over the weekend or on holidays are treated as if made on the following business day. If the aggregate total is $10,000 or more, a CTR is required.

[Bobtheicon]

That kinda pisses me off. I'm glad I don't have 10 grand in the bank. And knowing this, I won't ever have that much in there. -- unless it's cash in a safe deposit box. That's what you do... Or buy gold.

[cuse_man]

Originally Posted by Bobtheicon

That kinda pisses me off. I'm glad I don't have 10 grand in the bank. And knowing this, I won't ever have that much in there. -- unless it's cash in a safe deposit box. That's what you do... Or buy gold.

glen beck tells when buying gold.. only trust the people at goldline.

[bigsportsguy2006]

appreciate the help fellas .. and thanks beep.

oh and zoom, if u think its a brag post, im more than ok with that. when you win once in your life, its ok to brag. i normally would be asking a question like this so i could pay my debts, not collect lol. p.s. hope all is good with u buddy

[Beep]

Goldline is a rip off unless you are being sarcastic. APMEX is where you want to go.

[ZoomVT]

so iggs paying you and not GG?