Get IRS 8300 2012

Form 8300 is a document that must be filed with the IRS when an individual or business receives a cash payment over $10,000. Businesses that deal in large cash transactions are required to report all of their dealings accurately and honestly with the IRS.

The law requires that trades and businesses report cash payments of more than $10,000 to the federal government by filing IRS/FinCEN Form 8300, Report of Cash Payments Over $10,000 Received in a Trade or Business. Transactions that require Form 8300 include, but are not limited to: Escrow arrangement contributions.

The law requires that trades and businesses report cash payments of more than $10,000 to the federal government by filing IRS/FinCEN Form 8300, Report of Cash Payments Over $10,000 Received in a Trade or Business. Transactions that require Form 8300 include, but are not limited to: Escrow arrangement contributions.

PROMOTED. The Internal Revenue Service (IRS) recognizes the benefits of using Currency Transaction Reports (CTR) in its criminal and civil enforcement efforts. ... Additionally, IRS examiners closed several hundred audits that were initiated from CTR data and, in the process, recommended additional taxes of $13.6 million.

In accordance with the Bank Secrecy Act, financial institutions that receive $10,000 or more from a customer in exchange for a cashier check or other negotiable instrument must report the transaction to the IRS. ... For example, if you purchase one $5,000 cashier's check, the bank is not likely to report the transaction.

Federal law requires a person to report cash transactions of more than $10,000 by filing IRS Form 8300, Report of Cash Payments Over $10,000 Received in a Trade or Business.

File Online. The IRS has capabilities for you to file Form 8300 online. ... Keep Copies for Five Years. ... You Must File Within 15 Days of Receiving the Money. ... Create and Send Customer Statements. Understand Which Transactions Count.

The IRS requires that you file Form 8300 within 15 days of receiving the money in a transaction. Failing to do so will accrue you or your business penalties if the IRS finds out. If you simply fail to file on time, then the penalties will be $100 for each occurrence.

Filing Form 8300 Generally, any person in a trade or business who receives more than $10,000 in cash in a single transaction or in related transactions must file a Form 8300. Persons includes an individual, a company, a corporation, a partnership, an association, a trust, or an estate.

If you make a cash or check deposit of $10,000.00 or more in one transaction, then the bank must make you fill out and file IRS form 8300. ... The bank receiving these deposits must report them to the IRS to avoid breaking a federal law.

A customer can be, but is not required to be, told at the time of the transaction about the law requiring the reporting of cash payments over $10,000 to the IRS and FinCEN. ... A dealer who is filing Form 8300 voluntarily in order to report a suspicious transaction should not inform the customer of the filing.