Form 8300

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Form 8300

A form one files with the IRS to report cash payments in excess of $10,000 that one receives in the conduct of business. These payments are documented in order to discourage potential money laundering. Publication 1544 explains how to file Form 8300.
References in periodicals archive ?
Bale wants its money back and an order stating that the company didn't "intentionally disregard" its obligation to file the four Forms 8300.
As part of their pitch, the agents asked the Schlaens to not file IRS forms 8300, which would have otherwise alerted the government to each of the eight cash purchases in excess of $10,000.
The customer wants to avoid the filing of forms 8300 and "smurfed" funds aren't held for long periods of time in accounts.
Forms 8300 are collected by the IRS Detroit Computing Center and the information contained therein is entered into a data base.
Quite often attorneys will file Forms 8300 without disclosing their clients' identities, claiming that the attorney-client privilege prohibits such disclosure.
One area of risk relates to failing to establish record keeping systems to report certain transactions (regardless of their nexus to a crime) via Forms 8300.
These thirty-five employees of primarily computer distribution companies, including Command Systems, Wescom, New Miami Wholesale, Nexel, Daisytek, L&M, SDA Systems, and SED, were indicted for their roles in failing to file Forms 8300 and/or knowingly accepting proceeds of a crime with the intent to conceal or disguise the source of the funds (Money Laundering).