On the WIR message board a woman asked if she should be worried about her husband's secret account. She said he said "he'd told her about opening an account awhile ago." The account was to be used on a mad money surprise for her or them. However, she was upset because the amount of money in the account was substantial, 6 months of mortgage payments. She said she didn't want to just blow such money. So she asked people should be suspicious? Also she said she paid all the bills and they only had joint accounts. But her husband had this in his name alone. Also she wasn't sure how long he had the account, which was bad because potentially they had to refile taxes because they hadn't claimed the 1099 income.
I thought about it and decided, it depends. First of all 6 months of mortgage is what, at least $6k? That is a lot of money. I think I would be a bit suspicious, even if my husband told me he had discussed it with me. I would wonder where did he get the money to fund such an account? We have allowances of $40/month. So I would be worried.
Second, I would be disturbed over how long he was stashing cash and not telling me. And worse yet if he did not reveal the account while we filed our taxes. It would worry me because we could be audited by the IRS.
But to play the devil's advocate maybe the husband is saving for a special surprise. So it could be completely innocent. Would you be suspicious? Do you have any secret accounts from you spouse?
I don't and while I could, I don't think DH could. But how would someone even hide secret accounts if you file joint taxes? Wouldn't it raise red flags with the IRS? Or is the chances of an audit so small it doesn't matter?
I think it's an interesting conundrum.
EDITED TO ADD: The amount of the hidden money is more than $10k. So it is substantially more than $6k. It is Five Figures Hidden.