How much money can you deposit into a bank before it is reported to the IRS?
If you deposit $10,000 or more at once into a single bank account, the bank will have to report the deposit to the IRS and you will have to pay taxes on it. If your bank account has $55,000 in it, it will also be reported. ChaCha on!
Answered by Eugene . -
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A bank is a financial institution in which consumers utilize to hold their cash, get credit cards, mortgages and other financial services from.
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