How are Telegram Cannabis Marketplaces Receiving Electronic Funds?

How are all these Telegram cannabis marketplaces/groups receiving cash apps, Venmo’s and bank transfers? Are they all just avoiding taxes? Aren’t the large amount of transactions and amounts not flagged? The IRS has no statute of limitations on unfiled taxes/tax fraud. Surely most products are bought with cash and can’t be deducted. Are they just throwing caution to the wind?

XMR
or you can buy a fraudulent verified cashapp. buy btc and send it off the app

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So many questions here.

Sure they could be completely off books and not interested in talking at all with any regulatory body including the IRS and intentionally not paying taxes, etc.

Large transactions are allowed - there are forms to fill out with the IRS for each transaction. Are they doing them? That’s up to them. If they don’t then yeah, regulators can come after them, if they wanted and that could lead to legal action.

Just because something is bought with cash doesn’t mean it cannot be deducted. There must be a record, the record needs to be specific, if your record doesn’t include specifics on “who” paid the taxes, then you have to pay the taxes again (depending on what it was and where you live) but its not that you can’t just have those expenses there.

Cash economies exist for lots of other things. Yes - its more complicated to be compliant when using cash. But its not impossible. If you want to be compliant.

Sometimes I think people want to use these apps to be non-compliant - but it could also just be marketing and convenience.

And let us be quite honest - if someone doesn’t want to be compliant, then are they worried about deductions? Because if they already are not intending to pay taxes, why would they care about deductions. Could they get caught for tax evasion, sure.

Our industry is fraught with risk - deciding which risks you are willing to accept on any given day is what sets people apart. Because until they are caught its an assumed risk not an actual risk with consequences.

Seems like if they were evading taxes they might be evading other things and perhaps the IRS would be the least of their worries compared to say…the DEA? But I suppose that would depend on which state they were in at this point. Or country for that matter. x.X

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Identity theft/fraud combined with wire fraud and possibly a dash of sms spoofing is the usual

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Are any of those Groups legit? All seems like a scam.

Its all federally compliant hemp thca flower and concentrates

You just take any payment. Pay taxes on your federally compliant hemp products. Send money as you want

There is nothing illegal about federal complaint hemp

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You’re obligated to file taxes on your income even if it was the result of theft, so while some people are definitely just going with the ‘catch me if you can’ route, if they are smart, they’d be filing their taxes and claiming that income.

If you’re going to pretend that hemp is legal, you’ve gotta play the part. You can’t be scared to file your taxes AND claim that what you’re doing is legal. You’ve gotta pick a lane.

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The definition of “federally compliant hemp” is in flux.

There is a legal issue if the local/state jurisdiction prohibits/taxes the compound.

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Thats when you break out your wallet sized farm bill card

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Smaller payment increments in a two day period. If it’s 600 you do 100$ three times one day and do it against he next day at not the same time as the last deposit.

You can pull it off up to a certain amount too with some apps.

If you spend a certain amount a month you might be asked to verify your income/identity further than just registered details upon sign-up.

Depends on the app.

Structuring payments is almost a sure fire way to bring attention to yourself. The banks have algorithms to detect structuring and certainly will report you to the authorities.

in 2024, as long as its a cannabis product. (cannabis sativa) its all HEMP. no need to skirt the laws anymore. Just pay the taxes on your hemp business and you will be fine. Many payment processors allow “hemp” sales.

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Just what I heard.

I had no idea that it had a name. Structured Payments :rofl::rofl::rofl::rofl::rofl::rofl:. :man_shrugging:t2: Who knew.

i certainly did… LOL i would highly suggest not structuring payments. Computer algorithms and now AI is much smarter than the average criminal. You might think your slick but your activity might not be nearly as slick as you think you are.

Just saying this is not a good piece of advice. Pretty sure its a crime in itself and probably a bigger crime than the act your trying to commit to hide the cash.

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Then I retract that advice

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Christ this was a thing back when George Bush was still in fucking office. Even a human could go ‘HMMMMMMM REPORTING LIMIT IS XXXXXX AND ALL DEPOSITS ARE 500 BUCKS UNDERNEATH IT. WONDER IF THEY’RE TRYING TO SKIRT SOMETHING’.

That 100000% was a way to get an account closed and an investigation started with homeland security as they would just use it as a wildcard to say you’re doing anything they think would lock you up fastest.

Work is work - money is the joker card that can mean anything. Especially when you fuck with any federal institution.

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its even simplier than that. Even small payments like @GroovyOctopusLabs suggested can be easily identified when patterns occur. Like you cant make $1000 deposits daily at mulitple banks (3x) without getting attention in like 20-45 days. never are you making near 10k deposits nor coming close. Just the pattern is enough.

These Trillion Dollar institutions arent that dumb. sometimes some scams can get threw. most times criminals arent smart enough not to get caught.

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Yeah, either the vendors have someone directly involved with some sort of hacking/fraud for cash out, or they just pay a fee to have someone else handle it. Either stolen accounts or fake job offer type things, where unwitting people receive and forward the money. Since it can all be directed from afar (somewhere that doesn’t extradite…), those services are abundant. Wouldn’t take nearly as much of a hit as actually paying the tax man.

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2/10 are legit. I have personally bought several times over telegram without any issues. Anyways it was through recommendation from a friend who had a legit plug on telegram and shared me the telegram link, joined and made several successful deals for 2+ years I’m shopping from that vendor with no hassle!!

NB: Careful if you don’t see any reviews or no recommendation

Recently I have bought buds, shrooms, edibles off a telegram group I was recommended, the flowers and shrooms hits hard, edibles was somehow mid off my expectations. It was worth trying though!!!