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Increased IRS Enforcement – Form 8300 – Needs Review
Featuring: Rob Campbell and Jennifer Moylan of Withum
Air Date: August 18, 2022
1pm Eastern/ 12pm Central / 11am Mountain / 10am Pacific
Program Length: 30 minutes
Learn what is triggering renewed attention to this filing requirement as well as what they are looking for…
As with everything involving U.S. tax law… The Devil is in the Details Dealing with and complying with regulations centered on Form 8300, may seem like an old subject, but seldom is full compliance a simple thing. A detailed exploration of IRS Form 8300 and the absolute requirements that dealerships need to be aware and reminded of.
You will learn:
The definition of “cash” and what transactions must be reported
If the customer must be notified that a Form 8300 was filed
How to respond if the customer refuses to provide proper identification
What records must you maintain and for how long
How to double check your dealership’s compliance