My fiance's father gave us a large check ($10,000) to help pay for our upcoming wedding. Are there any tax implications that we will be responsible for when we deposit it?
Banks are not in the business of tax collection. The fact that you deposit a check is not a taxable event. You would need to refer to your IRS requirements as to whether this could be considered taxable income or some type of inheritance. You may ask a tax specialist or financial planner if this will have any impact in the future, or if it is just a non-event.
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Banks are not in the business of tax collection. The fact that you deposit a check is not a taxable event. You would need to refer to your 