On 2019-02-07, Gene Heskett <ghesk...@shentel.net> wrote:
> On Wednesday 06 February 2019 20:15:48 John Hasler wrote:
>
>> Gene writes:
>> > I have had to write 2 checks for the last 2 vehicles I've
>> > bought. Writing a single check for close to $20k for a good used
>> > car/truck doesn't fly, some sort of a rule that 10k and over has to
>> > be reported so the irs can watch for laundering, so I write one for
>> > $9999 one day, and the balance the next day. As long as the account
>> > is good for it, what business is it I buy a new truck to replace a
>> > 20 yo rust bucket that getting dangerous to drive.
>>
>> People have been prosecuted for evading the controls in that way. The
>> government doesn't need to prove that any other illegal activity was
>> involved or intended: evading the reporting requirements is a crime in
>> itself.
>
> Maybe, but if they jailed everybody that did it, we'd need at least 20x
> more beds in the jails.+
>
>
> Cheers, Gene Heskett
I thought the $10,000 rule had to do with *cash*.
Cash does not include:
• Personal checks drawn on the account of the writer.
• A cashier’s check, bank draft, traveler’s check or money order with a
face value of more than $10,000.
https://www.irs.gov/pub/irs-utl/irsform8300referenceguide.pdf
Maybe I'm missing something here.
