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U.S. IRS Issues Reminder for Businesses to Report Large Cash Transactions

03 March 2021

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Approved Changes

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United States

The U.S. IRS issued a reminder on 26 February 2021 for businesses to report large cash transactions and also to encourage e-filing. --- IRS reminds businesses to report large cash transactions; e-file encouraged IR-2021-47, February 26, 2021 WASHINGTON — The Internal Revenue Service today reminds businesses of their responsibility to file Form 8300, Report of Cash Payments Over $10,000, and encourages e-filing to help them file accurate, complete forms. 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....