janchan88[at]gmail.com wrote:

- quote -

of certain types of shady dealings). Don't worry about, but
keep out of trouble:-)

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janchan88[at]gmail.com wrote:

- quote -

The US Bank Secrecy Act requires that the bank report to the
Commissioner of the IRS certain currency transactions in
excess of $10,000. This would include your withdrawal of
the $50,000 in cash two years ago as well as your deposit of
$80,000 in cash tomorrow. It is highly unlikely that this
singular act would trigger an IRS audit of your tax returns.

--
Alan
http://taxtopics.net

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<janchan88[at]gmail.com> wrote:

- quote -

When you put this money into you bank savings account the
bank will get information from you and pass it on to IRS
since the amount is in excess of $10,000.

Wayne Brasch

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Hi,

I have a very stupid question. About two years ago, I have
taken out all the money from my saving account, let say
$50,000, and stored the cash into a safe deposit box.
Through these years, whenever I got paid and had a couple
thousand dollars in my saving account, I took them out and
deposited the cash into the safe deposit box. Recently, I
need to buy a house, if I take all the money out from the
safe deposit box (about $80,000 total) and put the cash into
my bank saving account to pay for house deposit, will I be a
target to IRS? Will IRS wonder where this lump-sum money
come from even I have steady monthly income all these years
but my bank account is always below $1000? Thank you.

Moderator: Stupid questions are the ones not asked

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