Taxes On Consignments - Net54baseball.com Forums

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#22

09-17-2013, 10:44 PM

buymycards buymycards is offline

Rick McQuillan

Member

Join Date: May 2009

Location: Wisconsin

Posts: 3,178

Reporting

I don't know the cash reporting threshold for banks, but with the Post Office, cash transactions of $3000 or more have to be reported to the Secret Service. If you come in and purchase $3000 worth of money orders you have to fill out a form. The info on the form goes into the computer system and the transaction is reported to the Secret Service. It is call the Bank Secrecy Act.

Rick

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Rick McQuillan

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