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Mystery $

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trebleclef posted 7/1/2013 23:20 PM

D is almost final- just waiting for the certificates. Unfortunately I'm still at the STBXH-occupied marital home a lot- trying to finish things up to sell. (WH is PA and will NEVER do it)

Last time there I spotted his work cheque book and snooped. (I know- I promise I will hereby stop since we will soon officially be "x")

Anyhow- interestingly, very few cheques written (obviously paying his staff under the table) but the stunner was nearly ten thou to some international organization I'd never heard of. ( this is the same
man who hasn't even filed income tax in two years, or paid any for the
last five)

The weird thing is: there is absolutely NO reference to any organization of that name or anything similar, anywhere on the Internet. I've
searched. So is it legit? Does it even exist? If not- where could these funds be going and why? Even if it WAS a legitimate payment of some type - it would have nothing whatsoever to do with his work. Why on his work account? Because of the nationality referenced in the name, I wondered if it had some connection to MOW. But ten grand! One cheque was for over five thousand $ - this is a man who was never a "donator" .

I'm stumped. And it bugs me because I don't want to think about him anymore. And I know I brought this on to myself by checking up

TrustedHer posted 7/1/2013 23:42 PM

Once upon a time, there was a magical $10,000 figure that was used by banks. Any transaction over that amount was automatically reported to the IRS.

A lot of people use that as a rule of thumb. They figure if it's under that amount, the IRS won't be notified.

I think they changed it to $5000 now. But not everyone got the memo.

I'm thinking money laundering/asset hiding, myself.

But then, I tend to think the worst.

peridot posted 7/1/2013 23:59 PM

I'm thinking money laundering/asset hiding, myself.

That's what I was thinking also.

Nature_Girl posted 7/2/2013 00:14 AM

It's a hat trick, then, 'cuz my first thought was money laundering.

Cookie7088 posted 7/2/2013 04:56 AM

TrustedHer -

I believe you are speaking of the highly acclaimed, "Bank Secrecy Act"...

It's still (over) $10,000 according to the United States IRS...

Maybe Canada has something similar?

Bank Secrecy Act

Congress passed the Bank Secrecy Act in 1970 as the first laws to fight money laundering in the United States. The BSA requires businesses to keep records and file reports that are determined to have a high degree of usefulness in criminal, tax, and regulatory matters. The documents filed by businesses under the BSA requirements are heavily used by law enforcement agencies, both domestic and international to identify, detect and deter money laundering whether it is in furtherance of a criminal enterprise, terrorism, tax evasion or other unlawful activity.

The Internal Revenue Service is a partner in the U.S. National Money Laundering Strategy. The IRS seeks to achieve a balance between enforcement of the money laundering laws and education. This page provides links to information about specific BSA requirements to assist with education and compliance with the law.

Report of Cash Payments Over $10,000 Received in a Trade or Business (Form 8300)

Reporting Cash Payments of Over $10,000
The general rule is that you must file Form 8300, Report of Cash Payments Over $10,000 Received in a Trade or Business, if your business receives more than $10,000 in cash from one buyer as a result of a single transaction or two or more related transactions.


[This message edited by Cookie7088 at 4:58 AM, July 2nd (Tuesday)]

Maxiom posted 7/2/2013 09:30 AM

As of 2003, Canadian banks will report all transactions in excess of 10k to the FIU (Finacial intelligence unit)

Faithful w/Love posted 7/2/2013 10:13 AM

yeah, it sounds bad.


lostmommy posted 7/2/2013 12:53 PM

The check wouldn't send up a flag anyway. Banks are mostly concerned about cash in increments of $10,000. Although back when I was a banker, we were trained to look for split deposits too (example one day Mr. Smith came in with $5K in cash, we had to check the before and after to see if he deposited another $5K in cash). If the split deposits seemed fishy, we'd fill out the IRS forms as well.

That being said, something could be rotten in Denmark.

NoTriangles posted 7/2/2013 12:58 PM

Definitely sounds fishy to me.

More importantly, I hope you are getting some kind of income tax indemnity as part of your divorce decree. You don't want his failure to pay taxes (or tax fraud) to come back on you.

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