Home Forums Hunting & Shooting Hunter's Campfire You know all that cash in your safe....

If you sold your boat for less than what you gave for it, you sold it at a net loss and the reporting cash doesn't apply as far as tax reporting. As far as the SAR report, there is no law that states you have to deposit the total amount in one account at one time. As that little guy on the Custom Gun Forum in AK says...."Hint", and I mean absolutely nothing mean or sarcastic by quoting him. Only the first time I found a civil reason to do so.

isn't it, had a friend that was a lawyer get it back for me as I was so pissed off and I would have said something I would have got in trouble, my friend said he would have charged anyone else $1500.00 and up to do the work. that's what they want to put me on into the system.

i can’t recall the exact statute but there’s also a federal felony for structuring deposits and withdrawals to get around the $10k reporting limit. Probably wouldn’t be the easiest case to prove but I’d just make the deposit and live with the report being made

On the other hand...how could you have that much money in a bank account that you just forgot about it?

!

Inflation, the cruelest tax of all. If people only understood how the Federal Reserve is screwing us they would revolt.

The law also applies to smaller amounts which add up to 10k or more if you deposit those smaller amounts in a manner or time frame which makes it look like you were avoiding the reporting amount.

This is one more side effect of the "war on drugs" which they are using to control all of us. The city violence and gang crap and assorted laws such as mandatory sentencing all affect a lot more than just the drug peddlers.

You can't control an innocent man. So they pass laws which turn us all into criminals and then they seize and steal and kill at their leisure.

not really, suspect all states have it. the time limitations of inactivity have become shorter, and the process is called escheatement.
in arizona, not to difficult to get back, and one can check online to determine if the state has funds held this way. it does not just pertain to cash either.

i would suspect very few are really up on the financial reporting requirements. all i will say it ain't like described in some of the posts here.

That's for sure.
I've been living on a cash only basis for the past 12 years. 99% of what is posted in this thread is pure BS.

What is even more disturbing for the honest civilian is that withdrawals are treated the same as deposits. If you withdraw $10K from the same financial organization within two days a report on "your behave " is filed also with the IRS. They do not have to give you any notice either, same as deposit.

easy, stopped doing business with that bank and never thought about it, wasn't that much money

I don't need to prove anything to anyone here.

I will not give any examples of cash purchases.

But, know this,

If you have a gun you can rob a bank.

If you have a bank you can rob everybody.

Good Day Gents.

I know a family of brothers, oldest is in a nursing home. Every month one of the other brothers brings in $1000 in cash that smells musty. Never any problem accepting cash on the nursing homes end.

Here’s another lovely bank story:

My elderly mother rents a house from me and pays me rent every month. She and I both use the same bank(BB&T). Each month she gives me a check for rent and I go through the drive through and direct the teller”Please make sure this goes in as cash”. I always give them my driver’s license for ID and fill out deposit slip as cash deposit.

Well Mom got confused, lost some checks and had them cancelled. Not sure how but last week she wrote me one of the cancelled checks. I didn’t know it was cancelled and the bank didn’t catch it until a few days later. What did they do? They pulled the cash out of my account and hit me with a fee! Needless to say there was a little hell raising going on.

And since when do cops get to search you or your vehicle for large amounts of cash when they stop you for speeding?

I have had motel room costs dropped from 60 to $50 with the use of cash. Today's use of cards has fully financed or inserted a third party into near every transaction. If travel does not involve airlines, I do about everything in cash.

If they smell that weed you been smokin' as you speed down the highway, they will find EVERYTHING in your car.

A local auctioneer told me, an older couple not only counter out cash for a Farm, they came up short a few thousand. The man glared at the wife, and said, You brought the wrong suitcase.

Widespread use of credit cards also contributes to price inflation. Just like when the Fed adds billions to the money supply (which they do pretty regularly), all the money owed on credit cards at any given moment adds to the available money supply. When you increase the money supply, you reduce the purchasing power of every dollar in existence to a commensurate degree. So every time you use your credit card, you are causing price inflation. Stated differently, every time you use your credit card, you are sucking a little value from the dollars in your, and everyone else's, wallets.