Quote:
Originally Posted by GrannyMae
wiring $56k to a bank account does not require the banks to report anything to the IRS. cashing a $56k check is a different story.
French banks/monetary institutions are forced to report any unusual activity that they may think is related to money laundering/illegal acts/tax fraud etc. It's for anti-money laundering and terrorist reasons. As they are forced to report but it's at their own discretion, they tend to report more than they should to protect themselves. For sure, 56k triggers the red flag especially if you have a regular job or are unemployed. If you are multi billionaire it may not.
It's not that much for tax reasons that I would advise against, it's just that your bank will likely become suspicious (they could even close your bank account, it happened to pro poker player before) and the French IRS too (could trigger an inspection). Regarding taxes, if you have a regular job poker winnings are tax free. If you are unemployed it's a grey area, but IRS could consider you as a professional and tax it, you would have then to legally fight them (with good chances as it's a shady area). 2nd case never happened for a poker player to my knowledge but most of our big pros have emigrated to avoid any problems.
