Uncle Sam & money... - question???

[computeraces]

Long story short... I'm about to get a decent chunk of change and I'd like to see if there's a way to hide it from uncle sam and not have to pay taxes on it as income. It's pretty much my labor for a large project I worked on for about a year and a half and I'm now getting paid for it all at once. I heard if an amount over $10K is deposited into a checking account, it's supposed to be reported to the IRS or something like that. Not sure if that's true or just a rumor. If so, should I deposit less than 10K several times? or to different accounts and then move them later?

[Jelly]

Long story short... I'm about to get a decent chunk of change and I'd like to see if there's a way to hide it from uncle sam and not have to pay taxes on it as income. It's pretty much my labor for a large project I worked on for about a year and a half and I'm now getting paid for it all at once. I heard if an amount over $10K is deposited into a checking account, it's supposed to be reported to the IRS or something like that. Not sure if that's true or just a rumor. If so, should I deposit less than 10K several times? or to different accounts and then move them later?

Forgeddaboutit! You're screwed!

AIG needs another outting.

[JV_Picker]

The IRS told varius financial transactors to report any transaction (or combination of such) that is $10K or over (latest high-profile "hit": Elliott Spitzer, former NY governor). The policy is related to the drug war.

You should try to track down a good tax accountant, lawyer, or financial advisor about your money rather than talk to us. There are ways to reduce your tax liability. "Eliminate" puts you squarely in the sights of scammers and others who fall in the shadows of the law.

[Gordo]

I suppose your business is illegitimate as well?