Question by Belle74: In-Laws banck accounts frozen by IRS putting money into my husbands personal checking account,?
rather LARGE amounts. The latest one was over 35,000! I keep telling him that this isn’t right and we could get into trouble ourselves, is this TRUE!? Can someone please help me with this? What are the consequences? I’m worried we’ll have to eventually pay taxes on this money in the event of an audit.
Best answer:
Answer by sunshine
Yes it is called money laundering and you could serve 10 yrs in a Federal Prison
Know better? Leave your own answer in the comments!
Your In-Laws are Criminals: “Accounts frozen by IRS”. Helping a criminal makes you criminal also and at the end you will be paying taxes on this amount. But family have to help family : you alone has to take the decision. You still can justify the presence of the money in your account. (gift).
If your in-laws accounts have been frozen, I suspect the IRS is also looking at where any of their monies may be going. Also, large cash deposits going into your checking accounts, would likely set off some big red flags at your bank.
I don’t know about you, but I wouldn’t want the IRS on my case!! Those folks are relentless.