Publication 1544
taxmap/pubs/p1544-002.htm#en_us_publink1000137576The amount you receive and when you receive it determine when
you must file. Generally, you must file Form 8300 within 15 days after receiving
a payment. If the Form 8300 due date (the 15th or last day you can timely file
the form) falls on a Saturday, Sunday, or legal holiday, it is delayed until the
next day that is not a Saturday, Sunday, or legal holiday.
taxmap/pubs/p1544-002.htm#en_us_publink1000137577In some transactions, the buyer may arrange to pay you in cash
installment payments. If the first payment is more than $10,000, you must file
Form 8300 within 15 days. If the first payment is not more than $10,000, you
must add the first payment and any later payments made within 1 year of the
first payment. When the total cash payments are more than $10,000, you must file
Form 8300 within 15 days.
After you file Form 8300, you must start a new count of cash
payments received from that buyer. If you receive more than $10,000 in
additional cash payments from that buyer within a 12-month period, you must file
another Form 8300. You must file the form within 15 days of the payment that
causes the additional payments to total more than $10,000.
If you are already required to file Form 8300 and you receive
additional payments within the 15 days before you must file, you can report all
the payments on one form.
taxmap/pubs/p1544-002.htm#en_us_publink1000137578On January 10, you receive a cash payment of $11,000. You receive
additional cash payments on the same transaction of $4,000 on February 15,
$5,000 on March 20, and $6,000 on May 12. By January 25, you must file a Form
8300 for the $11,000 payment. By May 27, you must file an additional Form 8300
for the additional payments that total $15,000.
taxmap/pubs/p1544-002.htm#en_us_publink1000137579Mail the form to the address given in the Form 8300 instructions.
taxmap/pubs/p1544-002.htm#en_us_publink1000137580You must give a written or electronic statement to each person
named on any Form 8300 you must file. You can give the statement electronically
only if the recipient agrees to receive it in that format. The statement must
show the name and address of your business, the name and phone number of a
contact person, and the total amount of reportable cash you received from the
person during the year. It must state that you are also reporting this
information to the IRS.
You must send this statement to the buyer by January 31 of the
year after the year in which you received the cash that caused you to file the
form.
 | You must keep a copy of every Form 8300 you file for 5 years.
|
Previous Page |
Table of Contents |
Index |
Next Page
