LogFAQs > #974674909

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Topic	Uh wtf? Someone wired $48k to my account.
IdiotMachine 07/06/23 10:14:30 PM #24:	So I was wrong with wire transfers with checks and ACH transfers or whatnot, $10k limit doesnt exist; only when you use pure cash to do transactions (like a money order or cashiers check), do you fill out forms: https://www.irs.gov/newsroom/understand-how-to-report-large-cash-transactions Wire transfers over $10k are still reported to the IRS, but not for tax purposes but rather for money laundering issues: https://www.irs.gov/businesses/small-businesses-self-employed/bank-secrecy-act --- https://i.imgur.com/XNEdLrJ.png <cite>IdiotMachine posted [p:974674909] in Uh wtf? So... [t:80501499]...</cite> <quote>So I was wrong with wire transfers with checks and ACH transfers or whatnot, $10k limit doesnt exist; only when you use pure cash to do transactions (like a money order or cashiers check), do you fill out forms:https://www.irs.gov/newsroom/understand-how-to-report-large-cash-transactionsWire transfers over $10k are still reported to the IRS, but not for tax purposes but rather for money laundering issues:https://www.irs.gov/businesses/small-businesses-self-employed/bank-secrecy-act --- https://i.imgur.com/XNEdLrJ.png</quote> ... Copied to Clipboard!
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