Nothing will happen in the US. I donot think there is any tax invloved. But since the currency transaction is over $10,000, your bank where the transaction occurred has to report this transaction to IRS on IRS form 4789. That is all for the moment. Typically on an average day there will be thousands (if not millions) of currency transcations of over $10,000 in the US, right?
IRS will store the information in their databases and supercomputer. If you are involved in a tax case with IRS in the future, then IRS' computer will retrieve the report of your transaction and IRS will investigate the transaction.
IRS will store the information in their databases and supercomputer. If you are involved in a tax case with IRS in the future, then IRS' computer will retrieve the report of your transaction and IRS will investigate the transaction.
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