How Much Money before Banks Report Deposit to IRS?

Answer

If you make a deposit that exceeds $10,000 your bank is required to report the deposit to the IRS. As long as you have a legitimate reason for a large deposit, you should not have any problems with your bank or the IRS. If you had several deposits of less than $10,000 each they should not be reported to the IRS.
Q&A Related to "How Much Money before Banks Report Deposit to..."
If you deposit $10,000 or more at once
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Congress passed the Bank Secrecy Act of 1970 in order to locate instances of money laundering and tax evasion. IRS rules on bank reporting requirements primarily help law enforcement
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officially it is $10,000.00 but if it is something out of the ordinary of a lower amount, they will report that as well
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If the account pays interest, then the IRS/Treasury knows almost to the penny. The bank reports the interest and a little math gives them the principle the interest was paid on. The
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The limit of cash deposits is $10,000 before it is reported to the IRS. IRS notification of cash deposits is required to prevent money laundering. It is also required ...
If you make a bank deposit of $10,000 or more, it will be reported to the IRS. This is the rule for banks in any state. The point of it is to keep a paper trail ...
When you are depositing checks into your account there is no set amount since it is all on paper. If you were to deposit over $10,000.00 in cash in a 24 hour period ...
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