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Someone please explain this - IRS tracking bank transactions

rajncajn

By rajncajn,
in The Tailgate

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  • 2 weeks later...
Randall Huddler Hall Of Fame

Randall

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Wells Fargo reported me having $260,00 in the bank when I was the executor of my mother's estate. I divided it in 4's and sent it to her 4 kids (me included), but they were all over me for a few months.

 

I moved it to another bank and didn't get the same notices from the IRS. No taxes were due.

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