bigstack1980 0 Posted April 24, 2009 Share Posted April 24, 2009 So I would like to know if I withdrew 10k via bank transfer.... will it be flagged down for taxes... and if so... how much will it be... I live in Texas, USA.... Link to post Share on other sites
Whatever 1 Posted April 24, 2009 Share Posted April 24, 2009 Probably not but I know I sleep better at night knowing that I declare all income...There's no reason to gamble when dealing with the IRS. If they get a sniff of you they win every time. Link to post Share on other sites
SuperJon 175 Posted April 24, 2009 Share Posted April 24, 2009 $10,000 will throw up a red flag.Just pay the taxes. You'll still have plenty left over. Link to post Share on other sites
Tehtoe 3 Posted April 24, 2009 Share Posted April 24, 2009 ya, lol, you're better off claiming it, they'll end up noticing. Link to post Share on other sites
troyomac 0 Posted April 24, 2009 Share Posted April 24, 2009 If you withdraw 10k, I'm gonna hunt you down. Link to post Share on other sites
pokersean 0 Posted April 24, 2009 Share Posted April 24, 2009 Even though taxes go to wasteful spending, pay it. It makes your life easier. Is there state income tax in Texas? I thought there was only sales tax? I could be wrong on that though. Never mess with the IRS. Link to post Share on other sites
Ron_Mexico 4,219 Posted April 24, 2009 Share Posted April 24, 2009 Uncle Sam is watching. Do the right thing. Link to post Share on other sites
El Guapo 8 Posted April 24, 2009 Share Posted April 24, 2009 If you use the form W-1032 you can postpone the taxes you pay for up to 24 months on self employed income. You can get the form at the post office, voter registration area or DMV. Link to post Share on other sites
colonel Feathers 5 Posted April 24, 2009 Share Posted April 24, 2009 I think 10k is the magic number that initiates a report. Link to post Share on other sites
Balloon guy 158 Posted April 24, 2009 Share Posted April 24, 2009 1-800-IRS-TIPSThe number we will call if you don't report the incomeThere is a $100 tip rewardI'll split it with you though because I'm cool like that. Link to post Share on other sites
SGFULTON83 0 Posted April 24, 2009 Share Posted April 24, 2009 So I would like to know if I withdrew 10k via bank transfer.... will it be flagged down for taxes... and if so... how much will it be... I live in Texas, USA....They won't notice it until YOU least expect it, then they will break your balls.EDIT: Enough with the brag, congrats on your withdrawal and your __ threads regarding it. Link to post Share on other sites
mtdesmoines 3 Posted April 24, 2009 Share Posted April 24, 2009 Lucky for you, I think the amount of money the IRS pays attention to is $10,001. Link to post Share on other sites
mcpickl 0 Posted April 24, 2009 Share Posted April 24, 2009 I think your third thread about how awesome you are should definitely tell the story of that time you banged Jessica Biel.That was awesome. Link to post Share on other sites
Cappy37 0 Posted April 25, 2009 Share Posted April 25, 2009 Glad to hear K8 is finally paying off for ya. Link to post Share on other sites
KentuckySlim 0 Posted April 25, 2009 Share Posted April 25, 2009 So I would like to know if I withdrew 10k via bank transfer.... will it be flagged down for taxes... and if so... how much will it be... I live in Texas, USA....Banks have to report when amounts greater than 9k hit your account. Do it in two withdrawals separated by at least a week and the bank will not be required to report it to the government. Still might be seen, though... Link to post Share on other sites
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