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TAX & IRS 2016 QUESTIONS! Please HELP

wa3more
Established Contributor

Re: TAX & IRS 2016 QUESTIONS! Please HELP

Also , don't worry about deposits for reimbursable expenses hitting your bank account.

Message 11 of 12
jamesdwi
Valued Contributor

Re: TAX & IRS 2016 QUESTIONS! Please HELP

1.  IRS doesn't base your income based on bank deposits, or paychecks, they base it on the amount reported on  w2, 1099's, etc. 

 

2. Large cash deposits, either cash, money orders, are tracked by your bank, and if near or over $10,000 in depsosits in a short period of time, they are required to fill out a SAR or suspicious activity report,  the first one usually goes without notice, it happens frequently they will look deeper. Probably better to have your mom give you a check or better yet, get a company credit card and make you an authorized user.  

 

 

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Message 12 of 12
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