Re: Paying taxes ... sigh
Originally Posted by sunflwrgrl13
(Post 8177710)
Yes, they'll look at bank statements and see that large deposit. Btw, the IRS is automatically notified by the bank of any xfer over $10k so they'll know that you received those funds anyways. Only way you could get around paying taxes would be to make sure you don't leave a paper trail. i.e buy $80k in traveler's checks in $$ or something like that and then cash those checks slowly...and I'm not sure if even something like that could work.
Gingerert...just transfer it...I've transfered larger amounts in and out of the US several times. |
Re: Paying taxes ... sigh
Originally Posted by sunflwrgrl13
(Post 8177827)
I've never heard the term 'smurfing' or structuring though. Always thought it was basically tax evasion.
"Smurfing" was coined by some geezer in FL, I think. It refers to lots of mules accessing multiple accounts, like busy little Smurfs. :lol: |
Re: Paying taxes ... sigh
Originally Posted by sunflwrgrl13
(Post 8177710)
Btw, the IRS is automatically notified by the bank of any xfer over $10k .
Originally Posted by chartreuse
(Post 8177797)
Good point. IIRC, you also have to declare any amount over $10,000 to CBP, upon arrival in the USA.
Not a tax issue. |
Re: Paying taxes ... sigh
1 Attachment(s)
Originally Posted by meauxna
(Post 8177945)
Um, it's Treasury that's notified isn't it?
Edited to add: But you're correct that reports from banks go to FINCEN, which is part of Treasury. Though most bank staff still call it reporting to the IRS, 'cos they're clueless. |
Re: Paying taxes ... sigh
Originally Posted by chartreuse
(Post 8177835)
"Smurfing" was coined by some geezer in FL, I think.
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Re: Paying taxes ... sigh
Originally Posted by sunflwrgrl13
(Post 8177970)
Why does 'smurfing' just sound dirty? :blink: :lol:
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Re: Paying taxes ... sigh
Originally Posted by chartreuse
(Post 8177835)
"Smurfing" was coined by some geezer in FL
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Re: Paying taxes ... sigh
Originally Posted by Englishtart
(Post 8178011)
our Ray?
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Re: Paying taxes ... sigh
Originally Posted by chartreuse
(Post 8178018)
Nah, Ray invented "Dogging" ;)
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Re: Paying taxes ... sigh
Originally Posted by Jerseygirl
(Post 8177829)
Even then it is a legal requirement to declare money over $10K when entering the US...this includes cheques, cash, travellers cheques, money orders etc.
Gingerert...just transfer it...I've transfered larger amounts in and out of the US several times. Now then, do you have to wear a white hat and paint your skin blue to do smurfing? Or is that optional? |
Re: Paying taxes ... sigh
Originally Posted by gingerert
(Post 8178273)
Yup, I'm gonna do that. I'll see what the exchange rate looks like next week, otherwise I'll look into HiFX when I get back.
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Re: Paying taxes ... sigh
Originally Posted by gingerert
(Post 8178273)
Now then, do you have to wear a white hat and paint your skin blue to do smurfing? Or is that optional?
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Re: Paying taxes ... sigh
Originally Posted by gingerert
(Post 8178273)
Yup, I'm gonna do that. I'll see what the exchange rate looks like next week, otherwise I'll look into HiFX when I get back.
Now then, do you have to wear a white hat and paint your skin blue to do smurfing? Or is that optional? |
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