An interactive and engaging blog to share updated tax thoughts and concepts for US taxpayers - both individuals and business owners. Experienced CPA shares great US tax ideas. Also latest IRS rules that offer opportunities to plan on your taxes for next year.
Dec 16, 2011
If you received $10,000 or more in one or more related transactions you must file Form 8300
Each person engaged in a trade or business who, in the course of that trade or business, receives more than $10,000 in cash in one transaction or in two or more related transactions, must file Form 8300. Any transactions conducted between a payer (or its agent) and the recipient in a 24-hour period are related transactions. Transactions are considered related even if they occur over a period of more than 24 hours if the recipient knows, or has reason to know, that each transaction is one of a series of connected transactions.