Banks Report Large Deposits to IRS Under Federal Law
Banks must report cash deposits over $10,000 to the IRS using Form 8300 and FinCEN Form 104. The IRS uses these reports to identify potential unreported income and tax evasion.
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Banks must report cash deposits over $10,000 to the IRS using Form 8300 and FinCEN Form 104. The IRS uses these reports to identify potential unreported income and tax evasion.