Filing Electronically Will Be Required for Form 8300 for Cash Payments Over $10,000

If your business accepts large cash payments, you must file Form 8300 within 15 days of the cash transaction. Starting January 1, 2024, if your business files more than 10 information returns (e.g., W-2s), you’ll have to file Form 8300 electronically through the Treasury’s BSA E-Filing System. Businesses not required to e-file will continue to submit the paper forms to the IRS. #IdeaoftheDay