The IRS has urged businesses to file certain cash transaction reports for cash payments exceeding $10,000. Businesses are required to file Form 8300, Report of Cash Payments Over $10,000 Received in a Trade or Business, for such transactions. In general, Form 8300 helps law enforcement combat money laundering, tax evasion, drug dealing, terrorist financing and […]
The post Businesses Must File Cash Transaction Reports for Cash Payments Exceeding $10,000 (IR-2019-20; FS-2019-1) appeared first on Tax & Accounting Blog.