
Electronic Filing of Form 8300: Navigating Cash Payment Reporting Requirements
Businesses must now electronically file Form 8300, reporting cash payments over $10,000. This change enhances tax compliance and combats illicit activities.
Businesses must now electronically file Form 8300, reporting cash payments over $10,000. This change enhances tax compliance and combats illicit activities.
1099-K reporting threshold remains at $20,000 for 2023; $5,000 threshold planned for 2024.