Form 8300

What Is Form 8300?

The 8300 form is also known as the Report of Cash Payments Over $10,000 Received in a Trade or Business. It is widely used in business. The document was created by the Department of the Treasury Internal Revenue Service. While this amount of money looks like something unbelievable for many businesses to report during the year and they are ok to use W-2 or 1099 forms, there are some organizations that work with such an amount of money usually.

These companies have to use 8300 form IRS in their yearly reports. Among the companies which may need the templates are car dealerships, boat dealerships, art galleries, and antique selling companies.

Meanwhile, even nonprofits deal with such money. You may notice the form filed by the hospitals or colleges. They have to report payments that are over $10,000 using the document. Each time the company receives the payment with the sum of money indicated above, it has to send the filled blank during the 15 days to the IRS.

What Do I Need the IRS Form 8300 For?

• You can file form 8300 PDF to the IRS if you are an individual who receives a payment of over $10,000. You have to be self-employed and receive the money for your work to report on the payment and the taxes you have to pay;
• You can be part of a partnership, association, company, trust, corporation, or even estate. Once you received the money, you have only 15 days to send the IRS 8300 form PDF to the department;
• You have to file this form if the transaction of money was made at any part of the 50 states, as well as the District of Columbia, or the possession of the US or territory, including Guam, the US Virgin Islands, Puerto Rico, The Commonwealth of the Northern Mariana Islands, and American Samoa.

How to Fill Out 8300 Form?

After you’ve learned what is a form 8300 used for, you have to understand how to fill it out. The form is not that complicated. It consists of 4 pages, and the last two of them are detailed instructions for almost every section you have to complete. Yet, there are lots of numbers you can’t miss or make mistakes in. You will find tax form 8300 on the official IRS website with recommendations but no ability to complete it online.

If you don’t want to print the form, complete it by hand and scan it to send online using the PDFLiner. This online editor contains all the tools you need. You can even create an electronic signature recognized by US officials. Complete the form’s sections you need, check for mistakes several times and send it online. You can save the copy to your device as well. You may print the document if you want to send it by regular mail. Now, follow the 8300 form instructions to fill out the document:

1. Pick the matching statement on the payments provided and put the tick in the box;
2. Provide information on the individual who sent the cash, including the name, ID number, address, occupation, and date of birth;
3. Provide information on the person who received the transaction, including the name, taxpayer, ID, address, city, profession, employer ID, and alien identification for non-residents;
4. Make a description of the transaction, including the method of the payment, date when it was received, amount, and type of transaction;
5. Describe the business that received the cash;
6. Put the signature, title, and date. Don’t forget to include your phone number.

Organizations That Work With 8300 Tax Form

• Department of the Treasury Internal Revenue Service.