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Topic History of: I know its wrong
Max. showing the last posts - (Last post first)
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bigdaddy Would your response to the electronic trail left by a transaction be the same for an off-shore account? What if I wire transfer money to the Cook Islands for example, can the IRS track that as well, or is that priviledged in anyway?
steve Electronic media leaves an audit trail.

If the IRS is looking for places where you lauderings unreported income, then its reasonably safe to say they will review your credit card statements.

Electronic data is readily available and the IRS can summons it for discovery.
Jim C. I understand that, but I still wonder if something like that can be tracked? I mean, what do they do during an audit does the IRS ask for credit card statements?
steve As you know....IRC Section 61 requires taxpayers to report income from every source on your income tax return. Therefore, if your intent was to hide income from being reported and aviod paying taxes then you just committed tax fraud (which is a crime). If your intent was to report all of the income, but just have it sent elsewhere, then you may not be guilty of fraud.

When you prepare a tax return you declare under penalty of perjury that the information is true and complete to the best of your knowledge. I predict that if you comply with all laws and regulations, then you will sleep better at night.
bigdaddy I know its not legal, but I still want an answer to this: In theory, if I were to collect funds from a client via some type of wire transfer, but instead of putting it into my checking account the money is sent to my visa card. Can the IRS track that, because it seems to me a good way to hide money from the IRS? Thoughts?
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