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Cash Transaction Reporting Requirement

The IRS would like to remind businesses, including sole proprietors, that they are required to report any cash transaction exceeding $10,000.  A transaction can include more than one payment if a payment is one of a series of connected transactions.  The transaction must be reported on Form 8300 within 15 business days. Cash includes: coins, currency, cashier's checks, bank drafts, traveler's checks, and money orders.

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