International Bank Laws on Lots of Money?
If I go to a bank there, any large bank like Wells Fargo or B of A, and just open an account, and then 2 days later 3 or 400,000 euro is deposited for buying products (to export and sell in Spain) will this raise some flags with the IRS? THe money will be there for about 2-3 days before it is spent to buy the goods.
I want to know if this is legal and will it raise flags with the IRS? I dont have to pay US Tax because I will pay Spanish tax. Can they hold my money, and for how long?
Answer:
Meatsicklez says she loves you now come back
Love Stinky
if you transfer more than $10,000 US into the country, then yes, it will be flagged. The government does this to prevent money laudering from drugs etc. If you have a reasonable answer and can show the good that you bought then you should be ok.
Okay, Argus, which is it - you live in a trailer park on the river banks of West Virginia; you are in your senior year of college smoking pot; you are an import/export entrepreneur living abroad? The details of all of your "stories" are catching up to you.
I like your sense of humor, I have a prankster profile on myspace. I freak many people out. You seem to have an active life. Cool.
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