Reporting Cash Payments of Over $10,000

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Hi, my name is Phyllis and i work for the Internal Revenue Service.

Have you received a cash payment of more than $10,000 in your trade or business? if so, you will need to file form 8300, “Report of Cash Payments over $10,000 Received in a Trade or Business.”

Any individual, business, trust, estate or association receiving more than $10,000 in cash in one transaction, or two or more related transactions, is required to file form 8300. it does not matter if the business is a retailer, wholesaler or service provider.

The form is due within 15 days after the cash was received. you can also voluntarily file the form for any large cash transaction, even when the total amount does not exceed $10,000. If you fail to file a form 8300 when required, or submit an incomplete or incorrect report, you may be subject to a civil and/or criminal penalty.

Further, although there is no particular format for doing so, as the filer, you are also required to give a written statement to the person who gave you the $10,000 or more. you must do so by January 31 of the following year. This statement must include the filer’s name, address, the amount of cash received, and say that the information has been reported to the IRS.

To learn more about form 8300 and how to file it, visit IRS.gov.

Type “Form 8300” into the search box.