To avoid IRS reporting requirements under the ________________, transfers of cash to cashier's checks or $100 bills must take place in amounts under $10,000 or through banking officials who agree not to fill out a CTR.

Question

Quizplus · Accepted Answer

The Bank Secrecy Act requires financial institutions to assist U.S. government agencies in detecting and preventing money laundering, including the requirement to report cash transactions over $10,000 via a Currency Transaction Report (CTR).

To Avoid IRS Reporting Requirements Under the ________________, Transfers of Cash