I was also recently told by my bank that at $5000 they are required to submit a document to the IRS. I would agree Marlin, $5k transactions today are very much common place and the IRS would be overwhelmed. I do as many as 10-15 of these a year easily though I have documents to back everything up. I think this could be another one of those, "keeps the honest, honest and the dishonest, scared"?
Rick