Warning For Horse Players vs IRS and Government

[mass hole]

It is part of the "anti money laundering act" I have to take course every two years ...any financial profesional has too to identify acts that could be considered illegal......and making multiple deposits of cash over a period of time is a red flag....in this day and age I use strictly cards and checks and rarely have cash on me.....so this will happen in the future.....it is there requirment.....

[horses first]

The government only flags over 10k in withdrawals or deposits. Mass...I have also taken those 30 or 40 minute online waste of time mandatory courses. This post has zip to do with all horsemen or IRS red flagging someone making multiple 500 dollar withdrawal or deposits.   Over a decade never had one single issue about that and my banking active at times gets funky.  It's probably more of the meth being made in that small town versus a ADW horse player. Another thread about nothing and talking about his self. Go back to talking about little league and your kid. At least that was respectful S.

[cigar]

Swoodall is full of shit, Illinois flags 10k or more per deposit on a form 8300.
The business receiving it in no way may notify the person using the cash. That’s a fact!
Swoodall depositing a roll of dimes nothing happens.

[LUCPARK]

That's alot of DIMES

SWOODALL

[cigar]

Swoodall classic story,
He was at the otb after he cashed his disability check
While taking some oxys he see his buddy walk in to the otb
So he runs in and him and the other 5 retards bet. Superfecta
Swoodall spots the driver on horse 1 taking a shit and he knows a good shit from a bad one so he tells his buddies after they all empty out their piss bags that they should single the 3 over the 58 in the super because when he was younger he was told a good shit from a bad one. So they hit the super for a dime and send Steve to make the $26 deposit at the bank. But Steve pockets the bills and brings his kids piggy bank to make a deposit. The girl at the window makes him come in because it was slow and everyone at the bank needed a laugh.

[horses first]

Deposits a roll of dimes. 

That's rich.   

The state must be taking "recapture" along with track takeout on his 10 cent supers!

[Powerful Patricks Ghost]

Structuring is avoiding daily and weekly reporting by maker smaller more frequent deposits.

Your attempt at lawyering is a D-.

I repeat again....ALL CASH TRANSACTIONS are subject to the I.D. rule now and that's the change I was warning about.

Really? So a call to the IRS hotline wouldn't have any effect on you, huh?


Listen dipshit, this admission right here, IS STRUCTURING

Because I always deposit cash but stay under the federal reporting requirements making multiple smaller deposits vs one larger one that flagged me in their system.

[Powerful Patricks Ghost]

We also know by your stories that you aren't a winning horseplayer. I would bet any amount of money on that.

[swoodall]

One thing you can count on at plop and in harness racing in general, each is filled with stupid inbreds.


This was given to me today at the bank:

UPDATED REQUIREMENTS FOR CONDUCTING CASH TRANSACTIONS
()Bank will ask for additional information from all individuals presenting cash transactions. Existing bank customers will need to present photo identification to the teller at the time of the transaction. If the existing account information is inaccurate or incomplete, additional information will be requested. Examples:

-Photo identification (driver's license or government issued ID)
-Full Name
-Physical address
-Date of birth
-Taxpayer identification number
-Occupation

Once we capture customer personal information, only photo identification is required for future cash transactions.

FAQ's
Do all banks have this requirement?
-Yes, all banks are required to comply with federal regulatory guidelines for cash reporting.

What if I own a business and have multiple people that conduct cash transactions on behalf of the business?
-We will need to collect personal information from all individuals conducting cash transactions on behalf of the business.




If you work on the backstretch ignore the resident assholes who have already chimed in with their daily ignorance and be prepared next time someone hands you cash for working or grooming or maybe as a tip.

Some of you get government benefits because the money you earn is still below the poverty level.

So you work for cash to supplement those benefits. To ensure you don't get penalized for trying to make ends meet don't take that cash to the bank! Your cash transactions will be used against you!

Or at least be aware that Uncle Sam is now using money laundering laws to go after the poor working class.

This is another racist move from Trump to attack illegal immigrants who work for cash to stay off the grid.

Regardless of what these CRACKHEADS claim to know, I copied these rule changes word for word from the handouts the bank gave me and I am just trying to give some viewers a heads up.

[swoodall]

Really? So a call to the IRS hotline wouldn't have any effect on you, huh?


Listen dipshit, this admission right here, IS STRUCTURING

Listen dipshit YOU ARE WRONG AGAIN!

[swoodall]

Swoodall is full of shit, Illinois flags 10k or more per deposit on a form 8300.
The business receiving it in no way may notify the person using the cash. That’s a fact!
Swoodall depositing a roll of dimes nothing happens.

Cigar is an expert at everything......e specially training horses!


Cigar, did you learn English in America or is English a 2nd language for you?

What does the title "IMPORTANT CHANGES FOR CASH TRANSACTIONS" mean?

[swoodall]

This is copied from my bank's website:

Cash Transaction Processing FAQs.
We‘re making important changes for cash transactions

At ------ Bank we are committed to protecting your personal information. We are enhancing our process for cash transactions in order to meet regulatory guidelines for filing Currency Transaction Reports (CTRs) with the Financial Crimes Enforcement Network (FinCEN). We are now collecting additional identification information from individuals who request cash transactions. The additional information is required for most cash transactions, such as cash deposits, coin/currency orders, cash payments and check cashing.

This website provides information about this change and can be used to answer questions you may have. For more information, visit your local ----- Bank branch.

Who is FinCEN and what is CTR reporting?
Do all banks have this requirement?
Why am I now being asked for my personal information when you never asked for it in the past?
What personal information must be provided when processing a cash transaction?
How can I be certain you are protecting my personal information?
What if I don‘t have a TIN?
What are acceptable forms of identification?
I am concerned about verbally providing my confidential information over the drive through speaker or at a teller window. Do I have an alternative method for giving the teller my information?
What if I do not have time to wait for the teller to enter my information or if I don‘t have the required information (e.g. ID, TIN)?
Can I refuse to provide my personal information?
Do I need to provide my identification and other personal information every time I come in to process a cash transaction?


This proves who is lying and who is not!

You would think these lowlife republiCONS would have learned something from Omarosa.

Unless Trump banks at my bank then there is no reason to monitor customers for money laundering.

[swoodall]

Swoodall is full of shit, Illinois flags 10k or more per deposit on a form 8300.
The business receiving it in no way may notify the person using the cash. That’s a fact!
Swoodall depositing a roll of dimes nothing happens.

When you Googled this on your phone you should have read the entire article.

Form 8300 is a federal form used in reporting to the federal government not an Illinois statue.

Plus, why didn't your dumbass mention that Google also provided you with other articles linking you to Chase, Bank of America and Wells Fargo who started implementing the I.D. for cash transactions rule last year. Others banks including mine are now implementing these rules.

Honesty is not your strong suite, although I will say by you claiming to know something about banking it started me thinking about how someone as clueless as you would know what forms are used? 

So I Googled it and low and behold there was Cigar's cheat sheet.

You just cherry picked which parts you wanted to post.

[Fatboy]

When you Googled this on your phone you should have read the entire article.

Form 8300 is a federal form used in reporting to the federal government not an Illinois statue.

Plus, why didn't your dumbass mention that Google also provided you with other articles linking you to Chase, Bank of America and Wells Fargo who started implementing the I.D. for cash transactions rule last year. Others banks including mine are now implementing these rules.

Honesty is not your strong suite, although I will say by you claiming to know something about banking it started me thinking about how someone as clueless as you would know what forms are used? 

So I Googled it and low and behold there was Cigar's cheat sheet.

You just cherry picked which parts you wanted to post.

GINO IS EXPOSED?

[cigar]

Your fucking stupid or a idiot or both swoodall, 8300 is an Illinois form dumb fuck. I use it at work often so don’t dickens tell me shit about the 8300. Your a fucking liar!!! No one reports a small deposit at any bank. Unless they think you are laundering money which I doubt your deposit of $26 is laundering money
So go try to post something else stupid because your full of shit.