Does your business receive large amounts of cash or cash equivalents? If so, you’re generally required to report these transactions to the IRS — and not just on your tax return. The requirements. Each person who, in the course of operating a trade or business, receives more than $10,000 in cash in one transaction (or […]
Receive more than $10,000 in cash at your business? Here’s what you must do Read More »
The Infrastructure Investment and Jobs Act (IIJA) was signed into law on November 15, 2021. It includes new information reporting requirements that will generally apply to digital asset transactions starting in 2023. Cryptocurrency exchanges will be required to perform intermediary Form 1099 reporting for cryptocurrency transactions. Existing reporting rules If you have a stock brokerage
New digital asset reporting requirements will be imposed in coming years Read More »
Does your business receive large amounts of cash or cash equivalents? You may be required to submit forms to the IRS to report these transactions. Filing requirements. Each person engaged in a trade or business who, in the course of operating, receives more than $10,000 in cash in one transaction, or in two or more
File cash transaction reports for your business — on paper or electronically Read More »
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