Quote:
Originally Posted by Robbie
Got news for ya...if you buy a car with cash it better be the cheapest car on the planet. Because if you walk into a car dealership and pay more than $10,000 in cash...the fucking IRS requires the dealership to make you fill out Form 8300 so they can keep track of YOUR money at all times.
I bought my jeep a few years ago with "cash", I did it by going to the bank and purchasing several cashiers checks for $9,000 each.
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Odd. I guess the dealerships I have dealt with over the years are not following this law, as I have never had to do this with any cashier's check, and I have paid for cars cash. My 2011 Ford Edge I bought 2 years ago was more than $10k, and never had this issue then either.
I have heard of the $10k rule, and the only time I can think of being hassled with it was once a year at the casino if I won more than $10k in a 2 day period of time. That is the only time I recall having to fill anything out with it.
I have bank wires coming and going for much more than that on a weekly basis, and again, never had an issue. I do get called from the bank every 3-6 months, and I have explained what I am doing, who I am dealing with, and whatever so they have a full understanding of why I have these large payments and invoices going back and forth.
Do I get annoyed having to explain some of this stuff repeatedly? Sure. But I also do not want them locking up accounts on bullshit either. Which has never happened as I am straight forward with what is going where and why.
Do I think the government needs to know where every dime of my money in coming and going? No, not at all. I find it beyond annoying. However, I do concede that "most Americans" do not have
to their name, so I can understand
why they are asking about such matters. I am not saying it's right or wrong and I do find it some level of intrusive. I also do not agree with them seizing it, or getting all up in your business with the bank/hotel/friends/etc. or local Fife taking it either.
I am simply saying, I can understand WHY they ask when most people do not have $10,000 to their name, much less carrying it on their person regardless of where they are going.