Publication 1544 |
2001 Tax Year |
Examples
Example 1.
Pat Brown is the sales manager for Small Town Cars. On July 1,
1997, Jane Smith buys a new car from Pat and pays $18,000 in cash. Pat
asks for identification from Jane to get the necessary information to
complete Form 8300. A filled-in form is shown in this publication.
Pat must mail the form to the address shown in the form's
instructions by July 16, 1997. He must also send a statement to Jane
by January 31, 1998.
Example 2.
Using the same facts given in Example 1, suppose Jane had arranged
to make cash payments of $6,000 each on July 1, August 1, and
September 1. Pat would have to file a Form 8300 by August 16 because
he would have received two cash payments within one year (July and
August) that total over $10,000. Pat would not have to report the
remaining $6,000 cash payment because it is not more than $10,000.
However, he could report it if he felt it was a suspicious
transaction.
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