Floradude Posted January 17, 2017 Report Share Posted January 17, 2017 I had quite a surprise today. After considerable time translating the letter/document/bill I determined the following. The first sentence translates to: During 2015 you got deposits in effective for $195,131 pesos; however, you are enrolled in the Federal Register of contributors without tax obligations. In looking back at my Banamex bank statements for 2015 I wrote 4 Wells Fargo checks for $3000 USD and had them deposited into my Banamex account as pesos. Now they are telling me I have to pay ISR on this to the amount of $30,765 pesos by April 3rd. They also say...if you are not obliged to pay the ISR by cash deposits obtained enter in sat.gob.mx (Regularization of the ISR) where you can clarify the origin of your deposits. Has anyone encountered this type of action before? A lawyer might cost more then the amount they want me to pay? Link to comment Share on other sites More sharing options...
John Shrall Posted January 17, 2017 Report Share Posted January 17, 2017 The ISR demand letter is based on cash bank deposits, not checks. I received the same sort of letter a couiple of years ago after spending a better part of a year depositing cash to pay for a house remodel. My deposits were far above yours. I took the time to copy every ATM receipt I had plus bank statements that proved source of funds and turned it over to Spencer. It ended up being a fishing expedition by ISR. Even though the government rescinded the tax on monthly cash deposits in excess of $15,000 pesos, banks are supposed to report anyone who makes excess deposits to ISR. It seems odd that they claim almost $200K of cash deposits if you didn't bring boatloads of pesos to the abank window for deposit. If you didn't do it the bank reported incorrectly. I ended up ignoring the letter and at least so far they've never come back requesting more tax payments. Link to comment Share on other sites More sharing options...
RVGRINGO Posted January 17, 2017 Report Share Posted January 17, 2017 Efectivo = cash, not checks. John has the right idea, above, but you could always send a reply which includes the appropriate proofs of the deposits being by check; maybe even copies of the cancelled checks. Link to comment Share on other sites More sharing options...
Intercasa Posted January 18, 2017 Report Share Posted January 18, 2017 You are both right but wrong. Yes law should only apply to cash deposits but many banks when presented with a US Dollar check will cash it into pesos and then make the deposit so the deposit is made in cash pesos even though you gave them a check and never handled cash. Link to comment Share on other sites More sharing options...
Floradude Posted January 18, 2017 Author Report Share Posted January 18, 2017 Intercasa....that is the whole purpose of given them an US Dollar check. I want it converted to pesos and deposited in my checking account. Am I required to pay tax on that? Link to comment Share on other sites More sharing options...
Intercasa Posted January 18, 2017 Report Share Posted January 18, 2017 No tax due but the tax man doesnt know that due to the banks system of applying the deposit, you should be able to ignore it or be safer and submit a clarification and copies of documents. Link to comment Share on other sites More sharing options...
Floradude Posted January 20, 2017 Author Report Share Posted January 20, 2017 Thank you for the information and advice Floradude Link to comment Share on other sites More sharing options...
LL.M. Andrei Muriel Posted January 31, 2017 Report Share Posted January 31, 2017 Hello Floradude, I'm new to this board but I have ample experience in the matter at hand. I agree with Spencer in ignoring the letter, but I'd like to provide some further annotations on the matter: If the Servicio de Administración Tributaria or SAT (Mexican Internal Revenue Service) sends you those letters and the alleged ammount overdue for ISR or Impuesto Sobre la Renta (Income Tax) is above Mex$200,000, it is likely that they will initiate a tax audit (nowadays there are three kinds of audit: a visita domiciliaria (field audit), revisión de gabinete (office audit) or revisión electrónica (electronic audit), in which cases it is possible to lodge an action through administrative and judicial courts to avoid paying Tax you don't actually owe. The letters they are sending are indeed part of a fishing campaign, but experience dictates they will actually initiate the aforementioned audits in some scenarios. If you need further assistance on this matter I'd be glad to be of service at mandrei.muriel@agu.auren.com Have a good one! Link to comment Share on other sites More sharing options...
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