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Cannabis Businesses Required to File IRS Form 8300 After Cash Transactions

AAFCPAs would like to remind cannabis business clients of their potential Form 8300 Report of Cash Payments Over $10,000 Received in a Trade or Business reporting obligation. This filing is required for any business who receives more than $10,000 in cash from one buyer as a result of a single transaction or two or more related transactions. The Form 8300 provides information to the IRS and the Financial Crimes Enforcement Network (FinCEN)... continue reading