Hacker News Reader

Like by the govt? Hadn't thought about that, good thing to think about

a number of cash payments would look quite normal, if you arranged a payment plan on paper but actually exchanged xthousand dollars for a vehicle all at once, it could be stimulating for IRS, or maybe DEA depending on exact situation

How does the IRS even find out you buy a car? There’s no federal sales tax. You just pay your state taxes.

If it’s a “nothing fancy” car, maybe a 30k accord or less, and he has a good income, it’s not going to raise any flags with either state or fed.

Bottom line - pay your taxes and you’ll be fine.

I can’t emphasize enough how good a feeling it is to have the title to your own car.

I believe that any movement of $10,000 or more is automatically reported to the Feds. A systematic movement of say $9,000 multiple times to avoid that would be viewed as structuring and you might draw their attention as well.

--edit (a word)--

the IRS would find out when the seller reports the sales income, unless the seller is truly crooked and cooks thier books up in some way, such as fees to a consultant who died in a house fire thus all his records are burned and gone.

Is there a federal sales tax on cars?

im sure there is a federal tax on annual revenue, regerdless of what your business sells

Reply on news.ycombinator.com