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Woodworking (rec.woodworking) Discussion forum covering all aspects of working with wood. All levels of expertise are encouraged to particiapte. |
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![]() I agree with your wish of bewns for the HR manager, but I have a thought: With a $10K limit above which monetary transactions have to be reported to thwe Feds somewhere somehow, would it not have been wise to call ahead and see whether a check would be acceptable payment? ... snip My understanding is the $10k reporting requirement is for bank transactions, not all financial transactions. The purpose is to catch money laundering. Technically $10,000 in _any_ transaction can be reported. However, it mainly refers to cash or combination of cash and checks. If you take cash for $5000 a week early, then take another $6000 in a few more days, you have to report it. If you get $5000 in cash and a Cashiers check for the balance, it's not required. If you get $9900 and then a check you are supposed to report that. This the feds feel is an attempt to circumvent the rules. This reminds me I need to file a form at work first thing on MONDAY! Alan |
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