Source: Plymouth Income Tax Consultants Blog

Plymouth Income Tax Consultants Blog Here’s what people should know about reporting cash payments

Federal law requires a person to report cash transactions of more than $10,000 to the IRS. Here are some facts about reporting these payments. Who’s covered For purposes of cash payments, a “person” is defined as an individual, company, corporation, partnership, association, trust or estate. For example: Dealers of jewelry, furniture, boats, aircraft, automobiles, art, [...]

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