Re: Do withdrawls or deposits to your bank account get flagged by the IRS?
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Banks are certainly tracking checks cashed against $ in your account and they are required to report unusual activity.
Cashing an occassional $200 check doesn't sound like anything unusual.
If you were running around to 30 different branches cashing $200 at each one every day, that would raise a red flag!
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yeah but its just a short term investment, the same thing as if i were openning, say a 60k CD at another bank. you're saying once the investment has matured and I decide to deposit it back to my bank account, that would raise a flag???
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