Generally speaking, any individual or entity receiving more than _____ in cash in connection with a business transaction must report that cash transaction to the federal government on IRS/FinCEN Form 8300.

Question

1. $5,000
2. $20,000
3. $50,000
4. $10,000

Answer 1

Generally speaking, any individual or entity receiving more than $10,000 in cash in connection with a business transaction must report that cash transaction to the federal government on IRS/FinCEN Form 8300. So the correct answer is:

4. $10,000