Quote:
Originally Posted by ninefingershuffle
Just cash out $1999 at a time
Horrible advice. If you happen to actually hit the $10K amount and do what you say it is literally illegal. It is called structuring.
If you do it and think you get away with it (or just refuse to provide ID) the casino is likely to still file a CTR (they will just note you refused AND that you appear to be structuring). They will also probably file a SAR (Suspect Activity Report).
While a SAR (or even several, as the Biden's) may not result in anything, a SAR garners much more attention in the gov't.
While a casino is required to file a CTR is daily cash transactions cumulatively reach $10K (in or out BTW), there is no rule they can't file for a lower amount. Many institutions set a lower limit. Thoug 2,000 or even 3,000 seems excessively low.
The idea this is for W-2 issue or witholding doesn't work as there is no way with certainty for them to know how much you started with. IOW, if you cash out for $25k how would casino KNOW that you did not pull $30K from your pocket and thus you are not a $25K winner but a $5K loser. Know way the cage is going to know this.
This is exactly why a $1200 win is always a "hand pay" for slots.