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Law Tutor, Esq.
Law Tutor, Esq., Lawyer
Category: Criminal Law
Satisfied Customers: 165
Experience:  N/A
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I have a friend who was arrested and was given a bail set at

Customer Question

Good Afternoon,
I have a friend who was arrested and was given a bail set at $55,000. He is asking me to go and bail him out as he has the money. However, I was wondering if that would somehow affect me due to the high bail amount. Will I have to provide information on the money when I get there. Or do I have to report that to the IRS at the end of the year.
Submitted: 10 months ago.
Category: Criminal Law
Expert:  Law Tutor, Esq. replied 10 months ago.

Hello. I am an attorney with experience in multiple jurisdictions and I look forward to assisting you today. Note: (1) If you want legal advice, please consult with a local attorney before acting or deciding not to act; information given here is for educational purposes only; (2) No specific course of action is proposed and no attorney-client relationship or privilege is formed herein; and (3) Please assign a feedback rating so JustAnswer will compensate me. By continuing, you confirm that you understand and agree to these terms and to JA’s other site disclaimers.

Are you posting 10% of the $55K or are you paying $55K total for the bail?

Customer: replied 10 months ago.
The total amount of $55,000 I believe.
Expert:  Law Tutor, Esq. replied 10 months ago.

Most jurisdictions require that an individual who posts a cash bail in the amount of $10,000 or more for someone, must complete an IRS Form 8300 at the time of the transactions. The person posting the bail must present a valid picture ID. So if the bail amount is $10,000 or more a 8300 form must be completed and will be filed with the IRS. I hope this helps.

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Expert:  Law Tutor, Esq. replied 10 months ago.

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