Joining this week’s episode of the Tax Rep Network Podcast is Megan Brackney. Megan is a partner at Kostelanetz & Fink in New York, where she does civil and criminal tax controversy work.
Before joining the Kostelanetz & Fink team, Megan was an Assistant United States Attorney in the Southern District of New York. Additionally, she was an Assistant Attorney General for the State of Missouri. Today, she is consistently recognized as one of New York’s super lawyers. She has given speeches all over the United States and written extensively on tax controversies, matrimonial divorce issues, immigration, and tax issues.
Megan is with us now to discuss Form 8300. The 8300 is the form that reports the receipt of cash payments of over $10,000 received in trade or business. It can be administered under the Bank Secrecy Act, but also under the Internal Revenue Code.
In Megan’s words, “Essentially, the form is a way for the IRS and treasury to track cash transactions that occur in the United States. And so, as the form indicates, if you receive more than $10,000 in a transaction or related transactions in a trade or business, the business is required to file this form and take some other steps related to compliance under these statutes.”
And that’s only the beginning of our chat! There’s plenty more in store.
If you are interested in learning about Form 8300, including specific details and explanations from Megan, then you don’t want to miss the full podcast. Available now!
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