best way to go unoticed with withdrawl

conc and van,

thanks for the very interesting discussion. Con i will go with your info due to the friends in the banking iundustry.  Even if van is correct on any of these its too much risk to go those routes.

Thanks!

BC

Look - since this is about the 5th time you have challenged me - I would say I have made over 200 bank wires in and out of my accounts over 10K in the last 2 years.

How many have you made?   How about your grandpappy?  Can you ask your moms boyfriends sister about me getting "flagged" (whatever the fuck that means).

You stated a totally false statement as fact.  You said it was reported to the IRS when you do a wire or check for 10K.  Wrong.

Dope.

Let me ask you a question dope.....

Businesses do bank wires ALL THE TIME.

You mean to tell me everytime my business does a bankwire over 10K I am flagged?  That is so funny to me.

They are flagging my payroll wire to Paychex every 2 weeks, about 10 of my monthly bills to suppliers, and incoming accounts receivables.

Jeez.  Every business in America is flagged according to you.

Who told you this?  Your sister in laws maid?

When you reply like you did above and throughout this thread, you know you are defeated.  Just give up.  I feel like I am pummeling you mercilessly.

i been reading vanzak's posts on this issue for years

he knows his shit, at least he always sounds like it

by the way van, is that you in avatar?i thought you were older than that

You are a joke and know nothing about anything you're talking about .

Just shut up and never speak again

WRONG AGAIN.

You left out a very key word - CASH.

I assume because you are a lawyer you can understand the differences between cash and an electronic transaction?  Im not a lawyer, but I sure can understand what a FINCEN report is (google it) and who it is reported to (not the IRS).

Bank wires of any amount are not reported unless they are suspicious.  Checks of any amount are not reported unless they are suspicious.  Get a fucking clue lawyer man.  Do some fucking research.  If you have 10K in cash on you at any time, a financial institution or any place of business is required to file a FINCEN report, which doesnt go to the IRS because it doesnt show INCOME.

Jesus - the amount of misinformation on this is alarming.

I am sorry - but I am utterly amazed at the ignorance of posts like this.

Imagine if every wire and check that was over 10K got reported to the IRS or Treasury.  Do you have any clue how most businesses run?  You cant be serious.

It is amazing to me that anyone with a brain could possibly think this, but then again - you did say you were a lawyer - so I guess its possible.

You're a fucking moron!  What point are you making?  In fact, if you're trying to make a point, you make it for me.  ANY transaction, cash or electronic or instrumental, of 10k or more is subject to reporting by all financial institutions in the U.S.  Which FINCEN report are you referring to?  There are more than one!  As it happens, they are all applicable.

I also did mention"SUSPICIOUS" originally, which obligates financial institutions to report ANY AMOUNT to the Treasury Dept.  And there is hardly any paperwork involved in the reporting process as most of the reporting is done by software!  It is routine!

You need not respond, jerkoff.  I have no further need to dignify your idiocy.

Sir -

The point I am making is clear:

Banks are not obligated to report transactions over 10K to anyone unless they are suspicious or unless the are cash.  Period.

You say that ALL transactions are reported, which is the fundamental error in your statement.

If a transaction is suspicious for any amount, it gets reported.  But normal wires and checks of ANY AMOUNT are not reported.

Get a clue pal.  And get some facts.  I cant state it any clearer than the above, and you are wrong.

And the fincen report I am referring to is the over 10K cash report, or the SAR (suspicious activity report).

There is no report for wires or checks over 10K.

There is a very easy way for you to prove me wrong.  Just source the legislation (you are a lawyer for gods sakes), or regulation, or anything that states that banks are required to report to anyone (much less the IRS, what a joke) transactions over 10K  other than cash.

I will wait. 

Just admit that the bolded above is for CASH transactions and we are in agreement.

The way you wrote it above is factually incorrect because it says "any and all transactions" which imply electronic transactions - which are CLEARLY exempt from reporting at any amount unless suspicious.

Thanks.

It would help if you didnt start your first post off by calling others "retarded".  That would lend itself to more civil discussion.

But we are in agreement, and you are a righteous dude for clarifying.

Respect.

OK.  I googled this. It took about two seconds to find the relevant link.

https://www.irs.gov/businesses/small/article/0,,id=159755,00.html

It is extremely clear on the fact that it is dealing with CASH payments.  In fact, there is an entire sublink entitled "Cash does not include".

Read it and read it closely.  You will see that the $10k limit on checks is an urban legend.  Like most urban legends, it takes a small truth and greatly expands its scope.   The government does want to know when large amounts of cash change hands.  Thats why you need to fill out those forms if you deal in large amounts at casinos.  However, the regulation doesn't apply to checks. 

I'm also not at all surprised that a branch manager would get this fact confused.  The finance industry is somewhat compartmentalized and this is sort of like asking an OB/GYN how to perform heart surgery.  In casual conversation, he'd either admit he didn't know or act smarter than he is. 

Vanzack might be a little cocky and obnoxious, but he is right.

If the IRS was tracking this, it would generate millions of reports and be an enormous compliance headache.  There would certainly be a lot of regulations posted online.  The above link talks about the CASH policy in great detail.  If there was a similar check policy, you would surely be able to find a link that described the ins and outs of compliance without having to rely on what a friend's mother told you in casual  conversation.

I can accept cocky and obnoxious.

So we had a guy who talked to a bank manager ,called people names and was wrong. Then a lawyer called people names and was wrong.

Does anyone actually check the crap they spew off on a daily basis ?

Covers is often a lot like politics.

Facts go out the window in favor of yelling the loudest, or telling the best story.

It is an epidemic.