$7.5 million in cash found in storage locker.

Discussion in 'Community Forum' started by Wildcat, Nov 24, 2018.

  1. Wildcat

    Wildcat 12 pointer

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    The other guys bank would and it's up to him to tell the truth or trouble.
     
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  2. ojibwa62

    ojibwa62 12 pointer

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    that right there should tell you all you need to know about the money, not only will he not get a penny he out $500..
     
  3. ojibwa62

    ojibwa62 12 pointer

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    Interesting we just bought the wife a 2018 Kia Rio hatch and paid $20k also wrote a check out of my savings , not a peep from the IRS or anyone else.. Also paid cash (check) for our property and house... In fact I have not taken out a loan in years for a house or car, ask me what my credit score is , damn near non-existent..
     
    Last edited: Nov 24, 2018
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  4. The IRS knows about the check for the car and the house purchase. Guaranteed.
     
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  5. ojibwa62

    ojibwa62 12 pointer

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    True and not worried about it in the least , most came from the sale of another home that was paid for also paid taxes on that sale already, the purchase of the home car , tractor etc are all above board not hiding a thing , it's for sure uncle sam knows every thing we do almost before we do it..
     
  6. wv67

    wv67 12 pointer

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    Yep I’d keep my mouth shut noonewould know nothing
     
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  7. Bubbles

    Bubbles Banned

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    Do you really think the other guy's bank knew about it either? If so, why keep it in a storage unit?

    Think about that....
     
  8. Wildcat

    Wildcat 12 pointer

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    I was not talking about the $7.5 million but the "semi new vehicle". If you bought it off a person he could put it in the bank, he gets audited and he has to answer the deposit.

    That $7.5 million could have come from anywhere in one go or over years time from different people.
     
    Last edited: Nov 24, 2018
  9. Gforcetrivers

    Gforcetrivers 12 pointer

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    No way the government is going to let that slide by.
     
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  10. RackedUP

    RackedUP 8 pointer

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    With a sum of cash like that left
    One has to think there was extraordinary circumstances. Drug dealer goes to jail, drug dealer gets killed or something.
     
  11. Carl

    Carl 12 pointer

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    3 can keep a secret if 2 are dead.
     
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  12. Iceman35

    Iceman35 12 pointer

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    That’s why you take it to the bank, or several banks, in less than 10K amounts. IMO, it’s not the governments business how much cash I legally obtained, and legally deposited in my bank account. And frankly, I’ll go out of my way, legally, to ensure that they never do.

    Let’s just say I have personal family experience with this, though our situation was 100% legal, and not nearly that amount.
     
  13. Iceman35

    Iceman35 12 pointer

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    Brings up another question actually. This isn’t really earned income, so how would it be taxed, and under what statute? First thing I would do is hire a lawyer.
     
  14. muddhunter

    muddhunter 12 pointer

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    That is called structuring and will get you on the radar of IRS quicker than making one large deposit.
     
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  15. Bubbles

    Bubbles Banned

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    I agree with everything you said. Does anyone think bookies or gamblers turn in their money?

    I could get a check from someone that is for a loan, pay them back with cash, done deal. You just have to know the right people. The options are endless.
     
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