Let's not forget this little gem... and how the general public is subject to it
and how many of the general public have been prosecuted for SEEMINGLY trying
to deposit/withdrawal THEIR MONEY in increments to circumvent this draconian law.Currency Transaction Report
" A currency transaction report (CTR) is a report that U.S. financial institutions are required to file with FinCEN for each deposit, withdrawal, exchange of currency, or other payment or transfer, by, through, or to the financial institution which involves a transaction in currency of more than $10,000. Used in this context, currency means the coin and/or paper money of any country that is designated as legal tender by the country of issuance. Currency also includes U.S. silver certificates, U.S. notes, Federal Reserve notes, and official foreign bank notes. "https://en.wikipedia...nsaction_reporthttps://www.law.corn...de/text/31/5324Structuring Cash Transactions Under $10,000 is Criminal!
" Cody deposits $9,500 in small bills. That is okay. But depositing $9,500 with the purpose of evading the currency transaction reporting requirement" is a crime called structuring. The Internal Revenue Service reminded businesses that they must file Form 8300, Report of Cash Payments Over $10,000 Received in a Trade or Business, when they engage in cash transactions in excess of $10,000.
Examples of businesses that may have to file Form 8300 include those that sell jewelry, furniture, boats, aircraft, or automobiles, as well as those that are pawnbrokers, attorneys, real estate brokers, insurance companies and travel agencies. "https://www.money-ed...000-is-criminal
Edited by Atossa, 19 June 2017 - 09:38 PM.