\
  The most prestigious law school admissions discussion board in the world.
BackRefresh Options Favorite

Shitlawyers: Does IRS Know If You Report Checks From Individual Clients (No 1099

...
yellow judgmental ticket booth antidepressant drug
  03/28/17
no. If you get audited, yes.
topaz deer antler
  03/28/17
Are they monitoring bank accounts to see large wires and dep...
yellow judgmental ticket booth antidepressant drug
  03/28/17
I don't think they are "monitoring" anything, and ...
topaz deer antler
  03/28/17
Banks have to report deposits above 10K to the irs though
yellow judgmental ticket booth antidepressant drug
  03/28/17
only cash deposits. checks no.
Wonderful Hell Tattoo
  03/28/17
what about 'suspicious transactions'
yellow judgmental ticket booth antidepressant drug
  03/28/17
wiring money out of country?
Wonderful Hell Tattoo
  03/28/17
one of my clients had the IRS and the FBI show up at his doo...
zippy doobsian cuckold
  03/28/17
Some things are not reported to the IRS and are on the honor...
copper becky gunner
  03/28/17
if your last name is Trump
dashing dun address
  03/28/17
Don't think so but if you are audited they can request your ...
Odious people who are hurt
  03/30/17


Poast new message in this thread



Reply Favorite

Date: March 28th, 2017 4:04 PM
Author: yellow judgmental ticket booth antidepressant drug



(http://www.autoadmit.com/thread.php?thread_id=3566851&forum_id=2#32939186)



Reply Favorite

Date: March 28th, 2017 4:05 PM
Author: topaz deer antler

no. If you get audited, yes.

(http://www.autoadmit.com/thread.php?thread_id=3566851&forum_id=2#32939192)



Reply Favorite

Date: March 28th, 2017 4:12 PM
Author: yellow judgmental ticket booth antidepressant drug

Are they monitoring bank accounts to see large wires and deposits to see where they're going?

(http://www.autoadmit.com/thread.php?thread_id=3566851&forum_id=2#32939235)



Reply Favorite

Date: March 28th, 2017 4:18 PM
Author: topaz deer antler

I don't think they are "monitoring" anything, and most shitlawyers pulling in 100-250k in gross legal fee revenue are pretty safe from audit. But if I had to venture a guess as to how they operate, the fact that your bank account is tied to your EIN means they have some way of seeing the total deposits if they wanted to. Probably set some arbitrary threshold where a certain discrepancy between gross deposits and your claimed gross income triggers further scrutiny.

(http://www.autoadmit.com/thread.php?thread_id=3566851&forum_id=2#32939258)



Reply Favorite

Date: March 28th, 2017 4:52 PM
Author: yellow judgmental ticket booth antidepressant drug

Banks have to report deposits above 10K to the irs though

(http://www.autoadmit.com/thread.php?thread_id=3566851&forum_id=2#32939511)



Reply Favorite

Date: March 28th, 2017 4:52 PM
Author: Wonderful Hell Tattoo

only cash deposits. checks no.

(http://www.autoadmit.com/thread.php?thread_id=3566851&forum_id=2#32939512)



Reply Favorite

Date: March 28th, 2017 6:17 PM
Author: yellow judgmental ticket booth antidepressant drug

what about 'suspicious transactions'

(http://www.autoadmit.com/thread.php?thread_id=3566851&forum_id=2#32939974)



Reply Favorite

Date: March 28th, 2017 6:17 PM
Author: Wonderful Hell Tattoo

wiring money out of country?

(http://www.autoadmit.com/thread.php?thread_id=3566851&forum_id=2#32939975)



Reply Favorite

Date: March 28th, 2017 6:50 PM
Author: zippy doobsian cuckold

one of my clients had the IRS and the FBI show up at his door because every month $5k would go into his account and then come right out for a completely legitimate reason. it was easy to clear it up for the feds, but it scares the shit out of me that banks are acting as watchdogs for the IRS

(http://www.autoadmit.com/thread.php?thread_id=3566851&forum_id=2#32940141)



Reply Favorite

Date: March 28th, 2017 6:28 PM
Author: copper becky gunner

Some things are not reported to the IRS and are on the honor system.

(http://www.autoadmit.com/thread.php?thread_id=3566851&forum_id=2#32940026)



Reply Favorite

Date: March 28th, 2017 6:29 PM
Author: dashing dun address

if your last name is Trump

(http://www.autoadmit.com/thread.php?thread_id=3566851&forum_id=2#32940032)



Reply Favorite

Date: March 30th, 2017 12:37 AM
Author: Odious people who are hurt

Don't think so but if you are audited they can request your bank statements. This happened to me in 2012. I had reported X in income and my credit card receipts (which are automatically reported to the IRS, coincidentally starting in 2012) equaled out to about 80% of X. I'm pretty sure that high ration is what triggered the audit. I called up the auditor, he asked to see my bank statements. I didn't have anything to hide so willingly turned them over. Of course he only asked for my business account statements so it would have been super easy for me simply to deposit any checks into my personal account. (I didn't.) A better question might be whether the IRS can figure out how much you didn't deposit but simply cashed.

(http://www.autoadmit.com/thread.php?thread_id=3566851&forum_id=2#32950937)