I understand that cashing checks over $10,000 is reported to the IRS. Is this limit for the entire tax year or per transaction?
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Specifically, the requirement is that a bank report transactions in currency known to be conducted by or on behalf of the same person, if the amount of currency received or paid out exceeds $10,000 on any one business day.
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Specifically, the requirement is that a bank report transactions in currency known to be conducted by or on behalf of the same person, if the amount of currency received or paid out exceeds $10,000 on any one business day.
