On Wed, 6 Feb 2019 20:51:37 -0600 David Wright <deb...@lionunicorn.co.uk> wrote:
> On Wed 06 Feb 2019 at 19:15:48 (-0600), John Hasler wrote: > > Gene writes: > > > I have had to write 2 checks for the last 2 vehicles I've > > > bought. Writing a single check for close to $20k for a good used > > > car/truck doesn't fly, some sort of a rule that 10k and over has to be > > > reported so the irs can watch for laundering, so I write one for $9999 > > > one day, and the balance the next day. As long as the account is good > > > for it, what business is it I buy a new truck to replace a 20 yo rust > > > bucket that getting dangerous to drive. > > > > People have been prosecuted for evading the controls in that way. The > > government doesn't need to prove that any other illegal activity was > > involved or intended: evading the reporting requirements is a crime in > > itself. > > Isn't it the payee who's evading the reporting requirement? So a payer > might try pleading ignorance as to why the payee asked for two cheques. The practice is called structuring, and I think that, at least in the U.S., the statute does cover payer conduct: https://en.wikipedia.org/wiki/Structuring Celejar
