I had a friend take out a second on his home for $75,000. He thought it'd be cool to pick it up in cash so he made arrangements with the bank and did it. He took it home and put it in his safe and then started getting nervous about it after my house got robbed. He took the cash back to his bank and deposited it.
Next thing he knows he's under investigation. In the end the IRS made him pay income and self employment tax on the $75,000 he borrowed against his home.
They watch cash transactions closely and your banker has to notify the gov about any deposit $10,000 or more or even smaller deposits if they're suspicious. The bank isn't supposed to let you know they're doing it. My credit union told me about it when I had a little side business selling silver and gold at gun shows during the early Obama years.
I'd have them wire large sums to a metals distributor and then I'd come back a month or so later with a bunch of twenties from the gunshow atm. They pulled me aside and said just deposit $9500 today and bring the rest back another day. They knew it was legit because they sent my orders in for me.
The constitution is hanging by a thread. I worry about the day we get another Dem Pres and really worry about when they're running all 3 houses.at the rate they're letting future Dems through the border it won't be long.
Bb
