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RE: Legality of requiring credit cards?



Mike Topalovich <[email protected]> writes:
> 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.

They're supposed to report "suspicious" cash transactions under 10K too.

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<a href="mailto:[email protected]">Dr.Dimitri Vulis KOTM</a>
Brighton Beach Boardwalk BBS, Forest Hills, N.Y.: +1-718-261-2013, 14.4Kbps