Pawn Brokers

What type of transactions are required to be reported, i.e. within the definition of “cash” transactions? If crypto currencies are not considered cash for 2022 and 2023, will this change in 2024?

ASSIGNMENT Background: Your client, Mission Bay Pawn Brokers, Inc. (“MBPB”), has many cash transactions with customers. MBPB is in the pawn broking business. MBPB have heard they need to report cash receipt transactions over $10,000 to the IRS on Form 8300. However, MBPB does not want to have to report these cash transactions and are […]

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