Monday, April 11, 2011

Do Banks Report Large Check Deposits to IRS?

It's tax season, and you're scared. You've made big cash deposits to your bank account and didn't report it to the IRS. You ask:

"Do banks report large check deposits to IRS?"

Here's your answer:

Your bank is required to send in a report of the amount of money you've despoited into your account at the end of the year. If the amount you've reported doesn't match up with the amount deposited in your bank account, this may stand out as a red flag in the IRS's automated system. From here, the collections process may start!

You Can't Hide From The IRS:

It's important to note that the IRS will look at your bank statements in the even of an audit as well, as you can read in their Cash Intensive Business Audit Techniques Guide.

I won't tell you a "safe" amount of money you can go without reporting to the IRS, because really, there is none. You need to truly play it safe and report all the income you make in one year to the IRS.

You're In Trouble: Talk to me about your situation and I can help you from here. My number is 1-888-415-1337 and my email is The quickest and easiest way to reach me is to fill out the form to the right.

Get Help Now: I'm working overtime helping people who owe the IRS this tax season, so don't hesitate to fill out the form to the right if you need help. I'll get back with you and point you in the right direction.


pandora nz said...

This post has been removed by a blog administrator.

pandora nz said...

This post has been removed by a blog administrator.

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