If we receive $10,000 or more in cash from a customer, do we have to report it to the IRS?

You are required to report any cash payments you receive of $10,000 or more in the course of your trade or business on IRS form 8300. According to the instructions for form 8300, you must report if the cash is received in a single payment or in two or more similar payments. In addition, you must file within 15 days of receiving the cash payment. The instructions begin on page 3 of the Form 8300.

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