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Wizard
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Wizard
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March 20th, 2011 at 8:16:30 PM permalink
Quote: EvenBob

The very first thing that would happen is, the bank would notify the IRS that 155K in cash had been dropped on a house. What would follow is an immediate rectal exam into every aspect of the buyers finances. Especially in a drug dealer riddled state like AZ. Ever since 911, spending cash over just a few thousand sends up red flags. A bank suit told me last year the new number was $4500, but its probably changed since then. Its still 10K in a casino, but if you do a transaction with a bank and its over $4500, they have to fill out Homeland Security paperwork, thats what they told me. But because this story is pure fabrication anyway, Singer has nothing to worry about.



Other posts have touched on this, but in this sense I think paying "cash" means that you likely paid with a cashier's check. When I closed on the house I live in now I presented a cashier's check for about $260,000, and nobody ever asked any questions about it.
"For with much wisdom comes much sorrow." -- Ecclesiastes 1:18 (NIV)
EvenBob
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March 20th, 2011 at 8:35:13 PM permalink
Quote: Wizard

I presented a cashier's check for about $260,000, and nobody ever asked any questions about it.



Nor do they ever. When you got the cashiers check it was reported and it was reported by the people who received it. If the IRS found anything irregular, you would have heard. If they find nothing untoward, you never even know they were looking at you. The cab driver is a good example. He used a cashiers check too, and when they checked him, they wondered how he had 7 grand when he hadn't filed in the last 7 years. In those days they could come up with a figure and challenge you to prove you didn't make it. Now they can't do that anymore, they are the ones that have to prove that you made money. My CPA says if you get paid in cash and have no paper trail, and watch how you spend, you can stay under the radar. But you'll never own anything worth owning, thats why all the big time gamblers file taxes, so they can live the lifestyle without going to prison.
"It's not called gambling if the math is on your side."
EvenBob
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March 20th, 2011 at 8:50:36 PM permalink
Quote: RobSinger

And where did I ever say I never filled out a cash transaction report? .



You seemed baffled and clueless about the whole process. Now that you got caught up on the facts, you can act like it was all under control the whole time. Its a moot point, I don't for a minute believe any of it happened anyway. See how I stick to the point and only discuss the facts? I never swerve off into name calling or personal insults, which you (and, BTW, Jerry Logan) do in almost post.
"It's not called gambling if the math is on your side."
RobSinger
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March 20th, 2011 at 9:00:13 PM permalink
Quote: EvenBob

Nor do they ever. When you got the cashiers check it was reported and it was reported by the people who received it. If the IRS found anything irregular, you would have heard. If they find nothing untoward, you never even know they were looking at you. The cab driver is a good example. He used a cashiers check too, and when they checked him, they wondered how he had 7 grand when he hadn't filed in the last 7 years. In those days they could come up with a figure and challenge you to prove you didn't make it. Now they can't do that anymore, they are the ones that have to prove that you made money. My CPA says if you get paid in cash and have no paper trail, and watch how you spend, you can stay under the radar. But you'll never own anything worth owning, thats why all the big time gamblers file taxes, so they can live the lifestyle without going to prison.



Now you're stumbling over your own ineptitude. When it pertained to me you claimed: "Its all considered 'cash' by the gov't. In fact, just getting the cashiers check would start the ball rolling." Now, when WoV confronts you by saying he had no issues, you squeeze out the words "Nor do they ever. When you got the cashiers check it was reported and it was reported by the people who received it. If the IRS found anything irregular, you would have heard."

It seems that "ball" you perceived as "rolling" on the one hand didn't appear to have much steam on the other.

Have you had enough yet?
RobSinger
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March 20th, 2011 at 9:04:33 PM permalink
Quote: EvenBob

You seemed baffled and clueless about the whole process. Now that you got caught up on the facts, you can act like it was all under control the whole time. Its a moot point, I don't for a minute believe any of it happened anyway. See how I stick to the point and only discuss the facts? I never swerve off into name calling or personal insults, which you (and, BTW, Jerry Logan) do in almost post.



I'm sitting here wondering if you used your best ammunition in trying to hijack this thread with your own version of personal attacks. After all, one would expect you might have seen how you resorted to shielding yourself from multiple posters' common sense as you spewed your hate. Exactly how lonely are you anyway, and how hopeless does tomorrow seem?
EvenBob
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March 20th, 2011 at 9:10:12 PM permalink
Quote: RobSinger

When it pertained to me you claimed: "Its all considered 'cash' by the gov't. In fact, just getting the cashiers check would start the ball rolling." Now, when WoV confronts you by saying he had no issues, you squeeze out the words "Nor do they ever.



Thats correct, nobody on our end ever has 'issues' with any of it. Who said they did? Why would they? The 'issues' come from the other end, IRS and other gov't agencies. If they have them (issues), you'll hear about it. If they don't, you'll never hear a word.

>>Now you're stumbling over your own ineptitude.>>

You really can't help it, can you? Without the personal insults its just not 'you'.
"It's not called gambling if the math is on your side."
Doc
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March 20th, 2011 at 9:11:24 PM permalink
I still haven't heard any reason why anyone in the government would get excited about someone purchasing a cashier's check or paying with one either. Unless, perhaps, they purchased the cashier's check with currency; then there would need to be a CTR, which isn't all that big a deal either. Purchasing the cashier's check with funds on deposit at the financial institution eliminates the need for the CTR and makes the paperwork a little quicker.

I personally don't care to carry significant amounts of currency, so it is quite rare that I have more than $1K or $2K. But I have purchased and used significantly larger cashier's checks (no, not from a significantly larger cashier) on many occasions, and I highly doubt there has ever been any sort of government investigation or interest in these transactions.
EvenBob
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March 20th, 2011 at 9:13:16 PM permalink
Quote: RobSinger

After all, one would expect you might have seen how you resorted to shielding yourself from multiple posters' common sense as you spewed your hate.



HUH? Hate? Please point out the hate, I missed it.



>>Exactly how lonely are you anyway, and how hopeless does tomorrow seem?>>

LOL, now you're trying to make me laugh. Very funny.
"It's not called gambling if the math is on your side."
RobSinger
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March 20th, 2011 at 9:30:36 PM permalink
Quote: Doc

I still haven't heard any reason why anyone in the government would get excited about someone purchasing a cashier's check or paying with one either. Unless, perhaps, they purchased the cashier's check with currency; then there would need to be a CTR, which isn't all that big a deal either. Purchasing the cashier's check with funds on deposit at the financial institution eliminates the need for the CTR and makes the paperwork a little quicker.

I personally don't care to carry significant amounts of currency, so it is quite rare that I have more than $1K or $2K. But I have purchased and used significantly larger cashier's checks (no, not from a significantly larger cashier) on many occasions, and I highly doubt there has ever been any sort of government investigation or interest in these transactions.



I believe what's going on here is the myself, WoV, and others who regularly deal in large cash transactions whether it be for gambling purposes or whatever, are simply stating actual experiences relating to them. Enter Bob, who because he has this uncontrolled hate of your truly, had no choice but to attack me with assumptions and assertions while at the same time performing mea culpas whenever anyone else brought up the common sense points. He tried to pretend he's the only one with any supposed "inside information" on how the CTR's & IRS work, just because no one brought the obvious up. So he begins his name-calling--which he regularly says how smart he is by refraining from it--by saying I'm clueless and baffled.

Some people are so use to stumbling that it becomes their expected routine.
EvenBob
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March 21st, 2011 at 12:05:20 AM permalink
Quote: RobSinger

attack me with assumptions and assertions



Nope, never attacked you. Just said I believe almost nothing you say. But this is getting very boring, I made my point, I think.
"It's not called gambling if the math is on your side."
RonC
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March 21st, 2011 at 2:02:27 AM permalink
Quote: EvenBob

Nope, never attacked you. Just said I believe almost nothing you say. But this is getting very boring, I made my point, I think.



Why would someone as skilled in debate as you stated that you are even bother to debate someone you think is a fraud and a phony? He presented a plausible story for someone with a bit of accumulated wealth. You don't believe he has the wealth and that the story is taken from the headlines, fine...just say it once and be done with it. This has gone on for pages since the last "interesting" comment that was on topic... Whether it is JL, MKL, or me, this is where the board gets off track and becomes less readable. Why not ignore his threads?

Cash transactions I have made (admittedly not in the amounts the Wizard and Rob have mentioned) have been reported but I have never had to actually do the report--the cashier or someone else filed it. The IRS would look at it, but the cash transaction alone is not evidence of anything other than a cash transaction. Now, if they find "extra money" (like someone not bothering with taxes or living way beyond his reported income as evidenced by the volume of money reported), it would be an issue.
EvenBob
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March 21st, 2011 at 3:12:16 AM permalink
Quote: RonC

You don't believe he has the wealth and that the story is taken from the headlines, fine...just say it once and be done with it. This has gone on for pages since the last "interesting" comment that was on topic.



Yup, I wholeheartedly agree. I realized I got sucked in way too late, I was doing other things and not really paying attention. Its the age old problem in debate, if you can't bring them up to your level, they will inexorably bring you down to theirs. I will try and do better in the future.
"It's not called gambling if the math is on your side."
RobSinger
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March 21st, 2011 at 4:50:30 AM permalink
Quote: EvenBob

Nope, never attacked you. Just said I believe almost nothing you say. But this is getting very boring, I made my point, I think.



You're like a whiney old lady who never knows when to quit. But you still can learn. I began a thread about a family situation that wasn't easy. The normal people here contributed educated and sometimes caring input. Some thanked my son for his service. A few criticized the way it was handled. Others acknowledged my being a decent father. You, however, offered nothing but insults by giving your all-too-common bitter, crotchety, smart-ass opinion that you don't believe any of it. My son isn't a war vet? He didn't have a foreclosure? I didn't help him? What twisted type of mind do you possess and how sour a life do you lead to have a need to be the only one to say that?

NOW I think YOU get the point....if you can get by your denials, and ridiculous self-serving claims that you're just too "smart" to insult people.
SFB
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March 21st, 2011 at 6:24:16 AM permalink
Quote: EvenBob

The very first thing that would happen is, the bank would notify the IRS that 155K in cash had been dropped on a house. What would follow is an immediate rectal exam into every aspect of the buyers finances. Especially in a drug dealer riddled state like AZ. Ever since 911, spending cash over just a few thousand sends up red flags. A bank suit told me last year the new number was $4500, but its probably changed since then. Its still 10K in a casino, but if you do a transaction with a bank and its over $4500, they have to fill out Homeland Security paperwork, thats what they told me. But because this story is pure fabrication anyway, Singer has nothing to worry about.






Quote: RobSinger

So confused....

If you got out more you'd see a massive amount of cash being used to buy up forclosed homes. Anyone who worries about the IRS and cash transactions is probably just amazed when they see a stack of hundreds. Every time I went to LV for a session I took $17k and got another $40k from BofA if I needed it when there. Making legal cash transactions means nothing. You're making up scenarios based on inexperience.



Even:

Mr Singer may or may not have done this deal. But he did not violate any currency transactions laws.

If you have $150k in savings, and withdraw it to buy a house, they may file a CRT on you, and so what? Its the banks responsibility to file those forms, it s the FBI/IRS responsibility to review those forms for a pattern of something illegal going on.

SFB
RobSinger
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March 21st, 2011 at 6:46:34 AM permalink
Absolutely right.

The guy just doesn't like it or want it to be that I have the money to do what I did. So his response is tossing insults & going off on a tangent to obfuscate a very simple issue. If you don't believe someone for whatever reason, you ignore it instead of trying to create disruption.

Once you understand this is the same person who hates restaurants because he hates seeing other people eating to live, and he would rather have a pizza & beer in his LV hotel room over being sociable with others people, you understand that bitterness is simply a part of him.
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