Grimmauld
08-02-2013, 05:23 AM
Ok so I'm trying to help calm my girlfriend down because of this problem: her parents bought a USED car from a dealership (paid the taxes of the car of course) with cash. The amount was around 11k total and there is a law that requires the dealership to notify the IRS of the purchase since it is over 10k. Now they have proof of a withdrawal of 5k from the bank account (how much the dad pitched in and from his bank account)and her grandpa offered to help pay it with his stash of cash (he doesn't trust banks) and lent the rest of the money to her mom to buy the car (6k). The reason her grandpa offered to lend some money is because her mom doesn't make a lot of money and lives in a low income building. Now they received a letter from the dealership saying that they notified the IRS of the purchase because it is a law. They are worried about the 6k that her grandpa lent to her mom because there was no proof since he took it from his stash he saved up over the years. Is there anyone with any knowledge about the IRS know if they are safe and don't have to worry? Thanks