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RE: Legality of requiring credit cards?
>
> Not always true.
>
> Go shopping with a wad of $100.00 bills. Most stores don't
> accept them, regardless of the amount of purchase, without
> additional ID.
>
> Try buying a new car, paying for it with $100.00 bills.
> You might enjoy filling out the paperwork that is required
> to do so.
>
It's not necessarily because you are paying with $100 bills. The IRS
requires banks and other businesses to report all cash transactions
exceeding $10,000 by means of a Currency Transaction Report (CTR). This
is a way for the IRS to track money laundering. There happens to be two
lines on the form asking for the number of $50 and $100 bills, but those
lines are optional.
Mike
[email protected]
>