Will This Be Cash - The Validity of Internal Revenue Code Section 6050I and the Attorney-Client Relationship
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Authors
Earl, Catherine A.
Issue Date
1988
Volume
21
Issue
Type
Journal Article
Language
Keywords
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Abstract
INTRODUCTION|Congress, under the Deficit Reduction Act of 1984, enacted section 60501 which requires every trade or business to report to the Internal Revenue Service any cash payment in excess of $10,000. The reporting requirement is implemented by the IRS through Form 8300. Form 8300 requires the trade or business receiving the cash payment to divulge information such as the identity of the source of the payment, the amount of cash received, and the method of payment. Section 60501 and the accompanying Form 8300 were patterned after the currency transaction provisions for financial institutions which require similar reporting of large cash deposits...
Description
Citation
21 Creighton L. Rev. 893 (1987-1988)
Publisher
Creighton University School of Law