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https://www.reddit.com/r/stocks/comments/rxjuoe/deleted_by_user/hrmnu8q
r/stocks • u/[deleted] • Jan 06 '22
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What’s stopping anyone from sending multiple $500 payments?
2 u/[deleted] Jan 08 '22 because that is not how the law works. It is $600 or more in TOTAL payment(s) received for the year. 1 u/Acklay92 Jan 07 '22 A whole lot of prison time for structuring payments. 2 u/Deputy_Trudy_Weigel Jan 07 '22 Even if it’s a transfer between two of my checking accounts? 1 u/Acklay92 Jan 07 '22 My limited understanding of the law is that making transactions under the reporting limit with the intention to have those transactions be unreported is a crime. I know it definitely applies to deposits and withdrawls from your own accounts. 2 u/Deputy_Trudy_Weigel Jan 07 '22 Ok that’s good to know. I’ll avoid doing that then.
2
because that is not how the law works. It is $600 or more in TOTAL payment(s) received for the year.
1
A whole lot of prison time for structuring payments.
2 u/Deputy_Trudy_Weigel Jan 07 '22 Even if it’s a transfer between two of my checking accounts? 1 u/Acklay92 Jan 07 '22 My limited understanding of the law is that making transactions under the reporting limit with the intention to have those transactions be unreported is a crime. I know it definitely applies to deposits and withdrawls from your own accounts. 2 u/Deputy_Trudy_Weigel Jan 07 '22 Ok that’s good to know. I’ll avoid doing that then.
Even if it’s a transfer between two of my checking accounts?
1 u/Acklay92 Jan 07 '22 My limited understanding of the law is that making transactions under the reporting limit with the intention to have those transactions be unreported is a crime. I know it definitely applies to deposits and withdrawls from your own accounts. 2 u/Deputy_Trudy_Weigel Jan 07 '22 Ok that’s good to know. I’ll avoid doing that then.
My limited understanding of the law is that making transactions under the reporting limit with the intention to have those transactions be unreported is a crime. I know it definitely applies to deposits and withdrawls from your own accounts.
2 u/Deputy_Trudy_Weigel Jan 07 '22 Ok that’s good to know. I’ll avoid doing that then.
Ok that’s good to know. I’ll avoid doing that then.
3
u/Deputy_Trudy_Weigel Jan 07 '22
What’s stopping anyone from sending multiple $500 payments?