Example- it's not against the law to deposit $ into your family members accounts, a few hundred to Mom, more to your adult son & daughter, some in your wife's individual account- All at different banks under others SS#. Total for the week is $12,000 but spread out it's not even noticed as connected.
Do this for 3 years+ and no one transaction is illegal but if combined they would be structuring, correct?
At what point would this appear to be a crime? When does it cross over the line to conceal lots of cash?
2006-12-05 09:21:07 · 8 answers · asked by upside down 4 in Politics & Government ➔ Law Enforcement & Police
See everyone comes to see this as MONEY LAUNDERING, same conclusion I have. My HUSBAND is doing this! The Police didn't see probable cause to look at the other accts!!
2006-12-05 09:30:22 · update #1
If you are getting this money illegally, you will soon be caught. We live in an electronic age. The IRS and government have access to your bank accounts anytime they want. They will become suspicious if you have that money and don't pay taxes. First it will look like these family members are avoiding the IRS, and they will have to pay the tax or tell where it came from.
2006-12-05 09:26:33 · answer #1 · answered by diturtlelady2004 4 · 0⤊ 0⤋
By federal law, you can give 10 k a year to as many people as you want and they don't have to pay tax, but you do.
If your laundering money, as it sounds, then you will eventually be caught. The banks are under serious guidelines for reporting transactions since 911. You are probably already in the radar, as is your family.
You each will probably at least be charged with tax evasion, have your assets frozen and later seized and be under investigation for years.
Schemes to defraud and tax evasion are worse than Murder in the eyes of the Fed. Plan on a couple dozen years in Club Fed.
2006-12-05 09:26:55 · answer #2 · answered by Dog Lover 7 · 0⤊ 0⤋
Immediately. Since the United States is the Only country in the world were you are judged on your intentions i.e. possession w/ intent to distribute. You are intending to illegally shelter taxable revenue. You are therefore guilty of a crime especially under the Patriot Act. If you involve others in your plot you and them are then guilty of conspiracy to defraud the US gov out of tax revenue.
After you added the details I see the problem. Just report it to the IRS they'll be interested.
2006-12-05 09:42:31 · answer #3 · answered by Anonymous · 0⤊ 0⤋
People don't often see the law as what it is. If you put a bunch of politicians into congress for so many days in the year there's nothing else for them to do than make more and more laws - automatically. No wonder that with among these masses of new legislation theres a bunch of schitt.
I don't believe in victim less crimes. I think that basically everyone is responsible for themselves and should be left to do what they want as long as they don't violate anyone's equal right or life, liberty, or possession.
2006-12-05 09:31:44 · answer #4 · answered by clevver17 2 · 1⤊ 0⤋
I answered your other question - but that didn't have the info about your Husband. The police may not care if this is a domestic dispute between you and your husband, but you can bet the IRS will if you report it. Be careful if you report jointly, you may be on the hook too.
2006-12-05 11:12:12 · answer #5 · answered by Tara P 5 · 0⤊ 0⤋
If you paid tax on the income then I don't see a problem. The reason for the $10,000 reporting requirement is, in part, to prevent income tax evasion.
2006-12-05 09:24:46 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Well, if the accounts are in different people's names, then technically & legally that money belongs to them, not you. So that's why!!
2006-12-05 09:24:36 · answer #7 · answered by mstrywmn 7 · 0⤊ 0⤋
Smoking medical marijuana without a prescription.
2006-12-05 09:29:40 · answer #8 · answered by Anonymous · 1⤊ 0⤋