Cash Deposit Into Bank Account(s)

If I was in charge... thats one of the things Id get rid of

 

Hookers and blow has a much better return these days.

 

Bank deposits have nothing to do with tax returns

 

And anything suspiciously close like a series of 9K deposits. The government really wants electronic money so they can track everything and confiscate on a whim. Goes with the desire for remote cutoff on a cars (they were wanting that back in the '90s when I worked with a car company)

 

check again.

and I was also told the $10k threshold has quietly been lowered.

 

Here's a good article that highlights the IRS' better behaviour these days: https://www.nolo.com/legal-encyclop...forfeiture-rules-regarding-cash-deposits.html

 

Searched, but couldn't find any evidence of this.

 

After 9/11, a buddy who worked at the Fed told me it was reduced to $2,500. However, I don't know if it was returned to normal or not, and my buddy passed from cancer a few years back so I can't ask them.

 

yeap, and I was told it was “reinstated informally” with a “flag” for multiple deposits adding up to X.
Similar source and reinforced by a higher higher up at a bank.

Want to really throw up flags? Do wires out for multiples of 2500 to 5K euros.

 

I tried to get $7k from my bank a few years ago and they said they didn’t have enough, lol

 

Cash needs to go away, well coins first.

There is probably a reason (Fed laws?), but I’ve been told the drive thru marijuana dispensaries like cash. That seems stupid.

 

No, it doesn't. While I agree a cashless society can make transactions simpler, the price to be paid for such ease is way too much due to overreach of certain entities etc etc etc.

 

are you in your 20s?

 

No.

 

Legal weed shops can't get access to charge customer credit cards and debit cards from national banks. Since weed is still illegal nationally, the banks have stringent limits on what they can do working with legal weed shops. The Feds see working with a legal weed shop as no different than working with a fentanyl , crack, heroin, or coke dealer.
Thus, weed shops are all cash only.

 

Yep, If you want more than a thou or two, you need to call ahead by a few days so they have enough on hand.

 

Absolutely, positively, no!

 

When i prepared the bank deposits for an rv dealer a few years ago, it was policy to not deposit more than $10k CASH in a single day. Checks didn't matter. Only cash

 

No way in hell would I want to risk driving to the bank with 5 digits worth of cash and ending up in a random traffic stop and having my money stolen by a ̶h̶i̶g̶h̶w̶a̶y̶m̶a̶n̶ upstanding law enforcement officer.

 

Civil asset forfeiture is another thing that needs to be stopped