The IRS is reminding businesses of their responsibility to file Form 8300, Report of Cash Payments Over $10,000.
Although many cash transactions are legitimate, information reported on Form 8300 can help stop those who evade taxes, profit from drug trading, engage in terrorist financing and conduct other criminal activities.
Although businesses have the option of filing Form 8300 on paper, the IRS recommends e-filing to reduce the need for follow-up correspondence with the agency. Learn more.