How much cash can you deposit without being flagged?

+1 vote
asked Feb 17, 2019 in Other-Finance by NetavobJam (350 points)
How much cash can you deposit without being flagged?

1 Answer

0 votes
answered Feb 17, 2019 by LizbethFelix (400 points)
All income you deposit into the bank is eventually reported to the IRS so they will know about any income you have in your bank account.

If you deposit $10,000.00 at one time either in cash or by check or direct deposit into the bank account then the bank will report that right away to the IRS so the IRS will know about that $10,000.00 deposit.

You can also capture the IRS' attention by making multiple large deposits that are less than $10,000.00 in your account.

All banks that get deposits whether cash, check or direct deposit of more than $10,000.00 have to report those deposits to the federal government.

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