FlyerTalk Forums - View Single Post - Spending $250K for Centurion, How About IRS? Large Cash deposits out of your league?
Old Aug 18, 10, 12:58 am
Join Date: Nov 2005
Posts: 199
Originally Posted by gallardo View Post
I guess an attorney or accountant would be the best ones to ask this, however I guarantee you would have a problem with the cash deposits. The bank would almost certainly file a SAR on you and possibly close your account. Checks or ACH would be better, but even still would raise flags with the IRS due to your income.

And since it's hypothetical, I'll say at 60k a year income the cent card is way too expensive, nor is someone the target customer of centurion. Also, when you apply for centurion they will ask your income, would you lie?
I think it is more suspicious to do lots of $9k deposits. I used to deposit $10-20k 3x a day at banks in coins. I'd always get a CTR for what I did. I suspect I got a SAR at some point too. So far, no one has come knocking on my door yet.
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