What will happen if the total balance of an account
exceeds $10,000.00. Will the money be taxed? Some say that nobody will bother unless a single deposit of ten thousand or more is made at one time.
Does this mean that small amounts of deposited money that build up to 10,000.00 or more won't be checked? If checked what will this likely result into? Please give me all the info you have about the consequences of having more than 10,000.00 in your bank account. Thank You.
Regards.

you are not taxed on the amount you have in your ban account. as far as repercussions for large deposits, if you are a banker then register as such and post in the private forum. Not too many here will be willing to give out information that could be used for circumventing laws...

Thanks I wanted to know wheather I have to pay any kind of taxes on any money deposited as a savings account.

You will pay taxes on the interest paid

Deposits of any amount are not taxed. Interest paid on the deposit generally is taxed.

Billy, the IRS requires you to pay taxes on income (not assets), regardless of whether you deposit it to a bank account or not. Please forgive me if I'm wrong, but the questions you ask appear to indicate that you are attempting to avoid the detection of income that you have earned. If you are not doing so, the only dollar amount in a bank account that would be of concern to you would be the limit of FDIC insurance, which is far greater than $10,000.

I believe he is confused with the $10,000 CASH deposit reporting rule.
Money laundering laws require a bank to report any CASH deposit of $10,000 or more. Money orders are considered cash. Checks are not. The cumulative balance in an account does not matter, you will only be taxed on the interest you earn on that balance.

Cash means U.S. and foreign currency, a cashier’s check, money order, bank draft, or travelers checks. IRS Form 8300 states: “Cash does not include a check drawn on the payer’s own account such as a personal check, regardless of the amount.” Not trying to start an argument.

Banks do not use IRS Form 8300. That is used by a person engaged in a trade or business who receives more than $10,000 in one transaction.