NEW FILING REQUIREMENT FOR BUSINESS TAXPAYERS WHO RECEIVE CASH (OR CHECK) TRANSACTIONS OVER $10,000

To combat money laundering and terrorism, the Financial Crimes Enforcement Network (FIN-CEN) is now requiring businesses report (within 15 days of receiving the cash), the receipt of $10,000 in cash from customers in the conduct of Trade or Business. This regulation took effect on January 1, 2024. What is

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