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10 Ιαν 2024 · Starting January 1, 2024, you must electronically file Forms 8300, Report of Cash Payments Over $10,000 Received in a Trade or Business, if you are required to file certain other information returns electronically (for example, Forms 1099 (series), Forms W-2, etc.).
When to report payments. The amount of cash a customer uses for a transaction and when the customer makes the transaction are the determining factors for when the business must file the Form 8300. Generally, a business must file Form 8300 within 15 days after they receive the cash.
Effective January 1, 2024, you must electronically file (e-file) Forms 8300 if you're required to e-file other information returns, such as Forms 1099 series and Forms W-2. You must e-file your Forms 8300 if you're required to file at least 10 information returns of one or more type (s) other than Form 8300 during a calendar year.
New Electronic Filing Requirement for the IRS Form 8300. The Internal Revenue Service (IRS) recently updated the process for filing Form 8300, Report of Cash Payments Over $10,000 Received in a Trade or Business. Starting on January 1, 2024, the form must be filed electronically.
According to the IRS, starting Jan. 1, 2024, businesses are required to electronically file (e-file) Form 8300, Report of Cash Payments Over $10,000, instead of filing a paper return. This new requirement follows final regulations amending e-filing rules for information returns, including Form 8300.
22 Απρ 2024 · Form 8300 must be filed by trades and businesses receiving cash payments over $10,000, whether as a lump sum or in installments that accumulate to over $10,000 within a year, provided the payments are made in the course of their business by the same buyer.
1 Μαΐ 2022 · Once a business receives more than $10,000 in cash, as defined, Form 8300 must be filed within 15 days. The reporting obligation cannot be avoided by separating a transaction into multiple transactions, because these will be considered "related transactions."
