Originally Posted by hobonc
You would have to declare any money over a certain amount if you brought cash across the border. I'm sure a quick google search could tell you how much that amount is. In the US, any transaction where cash in excess of $10,000 is exchanged must be reported to the Federal Government. So if you were to have it wired into your account, your financial institution would be required to report it.
That I am familiar with, but I was thinking along the lines of something like this..
Lets say I make a deep run and net a score of say 50k.
Does the USA know I received 50k from the tournament in Canada?
When I won over 20k in Vegas in a WSOP
event, they immediately hand you the paperwork for taxes.
I am wondering if you took a score for say 50, wired 40k to the bank and had 10k cash, does the government look the other way or are they trying to verify you only won 40?