Join an international drug cartel and follow their instructions?
Dippy is back
- Thread starter Nostroke
- Start date
Join an international drug cartel and follow their instructions?
Hey John you have a answer for every question, now weather its right or wrong i dont know, but atlease you do come up with answers!
I just cashed two checks for $8,500 and $7,500 at a major bank in L.A. I got thumb printed, two forms of ID, IRS transaction report (SS# etc.), and a mild third degree from the bank manager. She wanted me to open an account with them and just deposit the money. I asked for 16K in cash please.
Now this is a huge institution with billions in assets. I asked her if they kept that kind of money on hand, and if not I would come back later when they could get it together. I think I embarrassed her and that's when the money finally came out, after about 20 minutes. They put it through the machine three times and then counted it out in front of me. WHAT A HASSLE! The banks love to take your money. They just don't like handing it out. Worse than casinos in that respect.
I want you to know everything I was doing was completely legit. The checks were issued on an account with a high six figures in it (the manager called to check) and all my ID was in order. Since I had no account there, they charged me $7.50 to cash each check, $15 total, about one tenth of one per cent. The manager gave me a receipt and said if I open an account I could get my $15 back. Ha Ha
So that how it is today regarding money and banks and the IRS. I will report all this on my 2013 income tax return naturally. I've got nothing to hide, I just wanted the cash.
On another note, I went two and out in the recent U.S. Open One Pocket, but I am willing to play ANYONE who wants to give me 16-4 and they can bet any number they want. Dippy is not barred and I will play him even. I know he plays better than people realize. Yes, I will be well protected if I'm carrying major cheese.
Dippy called me a nit once in Vegas (no surprise there). What he didn't know was that there were two guys in the pool room that I had played for a thousand a game (Harry Platis and Archie the Greek). I should have made him a bet on that right then. Dippy if you're reading this I'm calling you a nit if you won't play me even for at least $1,000 a game or 10K a set. We can also bet higher if you feel froggy. One Pocket even - bring money! :wink:
Now this is a huge institution with billions in assets. I asked her if they kept that kind of money on hand, and if not I would come back later when they could get it together. I think I embarrassed her and that's when the money finally came out, after about 20 minutes. They put it through the machine three times and then counted it out in front of me. WHAT A HASSLE! The banks love to take your money. They just don't like handing it out. Worse than casinos in that respect.
I want you to know everything I was doing was completely legit. The checks were issued on an account with a high six figures in it (the manager called to check) and all my ID was in order. Since I had no account there, they charged me $7.50 to cash each check, $15 total, about one tenth of one per cent. The manager gave me a receipt and said if I open an account I could get my $15 back. Ha Ha
So that how it is today regarding money and banks and the IRS. I will report all this on my 2013 income tax return naturally. I've got nothing to hide, I just wanted the cash.
On another note, I went two and out in the recent U.S. Open One Pocket, but I am willing to play ANYONE who wants to give me 16-4 and they can bet any number they want. Dippy is not barred and I will play him even. I know he plays better than people realize. Yes, I will be well protected if I'm carrying major cheese.
Dippy called me a nit once in Vegas (no surprise there). What he didn't know was that there were two guys in the pool room that I had played for a thousand a game (Harry Platis and Archie the Greek). I should have made him a bet on that right then. Dippy if you're reading this I'm calling you a nit if you won't play me even for at least $1,000 a game or 10K a set. We can also bet higher if you feel froggy. One Pocket even - bring money! :wink:
pool aholic
Banned
What is the maximum you can cash at one time or deposit without them reporting it to the IRS. Also, why wouldn't you cash the checks at your own personal bank? They gave you a hard time because it was not your bank. Why would you offer to play Dippy even when you know he is not a good one pocket player and you have been playing the game all your life. Offer him a fair game and you might get him to play you.
pool aholic
Banned
The reason you had to fill out an irs transaction report is because you cashed two checks that totaled over 10k. If you were smart you would have cashed one and waited to cash the other one later. Anything over 10k gets reported to the IRS>
Banks must make a CTR to the IRS on any $10k cash transaction. This doesn't apply to checks, money orders or wire transfers into your account.
Banks can also make a SAR on any transaction or series of transactions they might find suspicious.
$9999 $10,000 requires a form. Cashing any check requires ID. You don't cash checks at your personal bank because then you have to wait for the money unless your bank is willing to front the money until the checks clear.
No bank should give anyone a hard time if a person wants to cash a check drawn on an account at their bank. Furthermore charging a fee for this is ludicrous.
Some banks are simply evil in their practices. They leech so much money out of society with the fees it's insane. Now if you deposit a check they can get the money from the other bank almost instantly yet they make you wait several days so that they can use those funds as deposits and earn pennies in interest. Multiply this by billions of transactions each week and it adds up.
No choice
They have no choice , this was all put in after 9/11 to try and curb money laundering.a lot of money was then going out to foreign countries.Things were in place before 9/11 but more restrictions after.
They have no choice , this was all put in after 9/11 to try and curb money laundering.a lot of money was then going out to foreign countries.Things were in place before 9/11 but more restrictions after.
pool aholic
Banned
I bring checks to my personal bank all the time and they will cash them right away without waiting for the check to clear. Also, Jay brought the checks to a bank that was not his personal bank. That is why he got charged a fee. He also, got over 10k in cash. That's why they are going to report it to the IRS. He should have cashed one check at a time at his personal bank and he would not have been taxed on the money.
I don't have to worry about that part as I don't have it. lol.
That's what the guys worth multi millions etc. are for. They don't have those issues, I see it when I'm at work.
I just know the lights "GREEN" and I can get er posted ANYTIME.
I guess that's why you need to find action with fatboy, dippy or top poker players with those 25k chips.
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pool aholic
Banned
Don't worry those millionaires are getting taxed on all that money. You can bet on it. Only way they can get around it is if they hold their gambling winnings in cash and don't deposit it in a bank. Or if they deposit 10k or less at a time.
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Like I said IF your bank will front you the money then you can get access to the funds right away.
He can't cash a check from another person at his bank. He can DEPOSIT a check into his account and THEN depending on his banks policy he can possibly withdraw cash against that check immediately.
The check was drawn ON an account at the bank holding that account. I know why they charged a fee, because they can. That doesn't mean it's right.
How about you and I gamble and every time I lose I direct you to Rico who is holding the money and he charges you a fee to extract that money from his pocket? Would you be cool with that? Or maybe we should do this, when you owe me money I will ask you to please write the check for to 7.50 over the amount you owe to cover the check cashing fee at YOUR bank.
The fact is that bank fees are out of line and there have been tons of stories exposing them. They are a HUGE profit stream for banks. Moving money from place to place costs money and banks, paypal, and wire transfer services will charge you as much as they can get away with to do it.
pool aholic
Banned
Maybe you are not following me. If I use my bank to cash a check from someone elses bank. They will not charge me a fee, but If I go to another bank to cash that check of course they will charge me a fee. Why wouldn't he just cash the check at his personal bank to avoid the fees and also cash one check at a time to avoid having to file irs papers. Jay cashed two checks totaling over 10k. That's why they made him fill out irs paper work. He could have avoided all that if he would have just cashed the checks at different times and used his own bank.
I follow you just fine. What you are not getting is that there is no standard rules on how banks handle checks. Maybe his bank doesn't do it like your bank, maybe he was in a city without any of his bank's branches, maybe his bank doesn't credit deposits immediately.
Anyway this is silly conversation at this point. If you want to play high dollar one pocket bring 20-40k in cash and worry about how to deposit it if you win.
pool aholic
Banned
Well one thing for sure is he should have cashed only one check to stay under the 10k radar. Was not very smart of him to cash both for over 10k and now he has to pay taxes on it. You can get around the IRS as much as possible if you use your brain. Also, if I won 20k or 40k cash from you playing pool. I would not deposit all the money at one time. Would deposit less than 10k at a time.
You think you are getting around the IRS by making two deposits?
Structuring - http://www.forbes.com/forbes/2008/0407/038.html
The point of this reporting is not for the IRS to know what your income is. The point of this requirement is to prevent money laundering. Reporting your income is on you. The IRS isn't coming after you for depositing more than 10k and having a lot of forms on file. They will come after you if you don't file your taxes and properly declare your income.
Here, everyone can read the rules.
http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/FAQs-Regarding-Reporting-Cash-Payments-of-Over-$10,000-(Form-8300)
Betcha didn't know that even as a registered professional gambler you are supposed to fill out these forms if you receive more than 10k in cash.....but NOT if you take a personal check.
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pool aholic
Banned
You think you are getting around the IRS by making two deposits?
The point of this reporting is not for the IRS to know what your income is. The point of this requirement is to prevent money laundering. Reporting your income is on you. The IRS isn't coming after you for depositing more than 10k and having a lot of forms on file. They will come after you if you don't file your taxes and properly declare your income.
Here, everyone can read the rules.
http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/FAQs-Regarding-Reporting-Cash-Payments-of-Over-$10,000-(Form-8300)
Betcha didn't know that even as a registered professional gambler you are supposed to fill out these forms if you receive more than 10k in cash.....but NOT if you take a personal check.
Yes, you can get around the IRS by making separate deposits. Banks are only required to report cash deposits of 10k or more. Yes of course they require it because of money laundering. If you deposit 10k or more the bank is required to automatically report it.
You didn't read the rules did you? Two checks from the same person deposited close to each other also counts as one transaction. Maybe Jay should have cashed the checks in different states about three months apart to avoid the bank making a report.
Oh and guess what? When you purposely make separate deposits to avoid the reporting then you are committing a federal crime. So here you are advocating that people commit federal offenses and risk having their assets confiscated to avoid some paperwork.
Then again most of us probably commit three felonies a day.
http://williamlanderson.blogspot.com/2010/10/criminalization-of-making-bank-deposit.html
http://williamlanderson.blogspot.com/2010/10/criminalization-of-making-bank-deposit.html
pool aholic
Banned
How close is close? That's the question. I am talking mainly about cash deposits. If you make several deposits for say 5k and do it often of course they are going to get suspicious. You have to be smart about it. Banks will not report anything under 10k and under unless the activity seems suspicious.