SailNet Community - View Single Post - Buying A Boat
Thread: Buying A Boat
View Single Post
post #5 of Old 04-06-2013
joelsanda's Avatar
Join Date: Aug 2011
Location: Colorado
Posts: 73
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 6
Re: Buying A Boat

Originally Posted by sailpower View Post
I'm pretty sure the bank does not have to notify the feds for check deposits.

It used to be only for cash greater than 10k.

Has that changed?
I think the ruling is for anything the bank finds 'suspicious' - which is activity not normally associated with the account holder. The Nest has a nice write up on this. Also, I just read the IRS is using social media to help them identify assets taxpayers have that may trigger conditions for a successful audit.
joelsanda is offline  
Quote Share with Facebook
For the best viewing experience please update your browser to Google Chrome