its in one day, but if you do transactions to avoid the 10K limit it raises a brighter flag....For example if you deposit 8500 and 2000 in two transactions, it raises a flag.
Yes & No... Nobody wants FLAGS. Even if its all legal. Did you ever sit through an audit. Not fun & very expensive.
http://www.irs.gov/businesses/small/article/0,,id=148821,00.htmland....http://www.ronpaulforums.com/showthread.php?233350-10-000-deposit-has-to-be-reported-to-the-irs
Does the 24-hour period mean one day such as all day Tuesday or does it mean literally 24 hours such as from 11 am on Tuesday to 11 am on Wednesday?A 24-hour period is 24 hours, not necessarily a calendar day or banking day.
I had sold my car. I wanted to immediately cash out the check in the bank right on issuance. I've seen too much fraud behind the scenes to trust anything. I wanted to deposit about 7k and move the rest to my other bank. Of course the bank teller told me since I was cashing out the check they were required to do a CTR which he said went to the IRS. The did ask me my job when he was completing the form on the computer.