Norman D. McKellar

THE McKELLAR LAW FIRM, PLLC

 

603 Main Street, Suite 405

Knoxville, TN 37902

 

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1-877-4-TAX-SOS

877-482-9767

Nationwide Representation
If you are contacted by an IRS Criminal Division Agent, you should immediately contact an attorney prior to making contact with the Agent. By speaking with the Agent, you may jeopardize your chances of success, and ultimately you may prove to be your own worst witness.

 

26 U.S.C. § 6050I and 31 U.S.C. § 5324 address prohibitions on structuring payments to assist in tax evasion.  Specifically, any person who receives $10,000 or more in cash is required to report this receipt to the IRS via Form 8300. 

 

The typical structuring scheme involves taxpayers making multiple deposits below the $10,000 threshold in order to avoid having to fill out Form 8300 and report said receipts to the IRS. 

 

The statutory penalties for violation of the structuring transactions can be severe and are contained in 31 U.S.C. § 5324(d) as follows:

 

(d) Criminal Penalty.—

(1) In general.— Whoever violates this section shall be fined in accordance with title 18, United States Code, imprisoned for not more than 5 years, or both.

(2) Enhanced penalty for aggravated cases.— Whoever violates this section while violating another law of the United States or as part of a pattern of any illegal activity involving more than $100,000 in a 12-month period shall be fined twice the amount provided in subsection (b)(3) or (c)(3) (as the case may be) of section 3571 of title 18, United States Code, imprisoned for not more than 10 years, or both.

 

If you need assistance in defending claims of structuring payments or cash receipts, please contact us today for a free consultation.  Call Norman D. McKellar toll-free at 1-877-4-TAX-SOS. 

 

 Structuring Payments

The McKellar Law Firm, PLLC

603 Main Street Suite 405

Knoxville TN  37902