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Form 8300 Cash payments over $10k to be electronically filed from 2024
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Form 8300 Cash payments over $10k to be electronically filed from 2024

Business, Individuals

Form 8300 Cash payments over $10k to be electronically filed from 2024

As part of the updates applicable to next year, from January 1st, 2024, you must electronically file (e-file) form 8300 if you e-file the other similar returns, such as 1099, w2s, etc. As mentioned in the IRS website, this form is a method to raise money laundering and illicit transactions "The Form 8300, Report of

By Victor Garrido, CPA, EA|2023-09-22T16:58:33+00:00September 22nd, 2023|Categories: Business, Individuals|Tags: $10k, 8300, 8508, cash, e-file, electronic, filing, irs, payments|

Extended tax benefits for charity during 2021; deductions up to $600 cash donations by non-itemizers
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Extended tax benefits for charity during 2021; deductions up to $600 cash donations by non-itemizers

Individuals

Extended tax benefits for charity during 2021; deductions up to $600 cash donations by non-itemizers

In the IRS Issue Number: IR-2021-190, there are some updates for those taxpayers giving to charity in 2021. Some of these updates are below: Deduction for individuals who don’t itemize; cash donations up to $600 qualify Ordinarily, individuals who elect to take the standard deduction cannot claim a deduction for their charitable contributions. The law

By Victor Garrido, CPA, EA|2021-09-21T00:02:43+00:00September 21st, 2021|Categories: Individuals|Tags: $600, cash, charity, contribution, deduction, non-itemizer|

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