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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: shades who wrote (30659)	4/15/2005 12:30:52 AM
From: jackjc	Respond to of 110194

The rule on 10k cash is an old rule, not new terrorism, and the drop to requiring reporting for 3k cash is also an old rule, at the banks discretion depending on several factors. If a person can document exactly that all cash received has been reported properly as income and taxes all paid, then the gov form can be filled out and cash deposited back into the system. Of course this may bring scrutiny, however I have read that they get so many forms they have not been able to track them (old info, maybe can now). Have read that the bank employees can receive 25% of penalties levied, so an incentive to bear down, and big problems for banks and cash businesses who are lax. Above is my recollection solely, and not legal advice. Consult an attorney before taking action.