Have a Tax Question? Ask a Tax Expert
Hello and thank you for using Just Answer. To prevent money laundering, any transaction that adds up to $10,000 or more are required to be reported as "significant cash transactions" to the Financial Crimes Enforcement Network (FINCEN). FINCEN can report the suspicious monetary activity to many different government agencies, including the IRS.
Whether the IRS will audit you or not is dependent on whether FINCEN reports the transaction to the IRS.