One of the most underrated and undiscussed IRS forms is Form 8300. Many business owners are confused about their need to report cash payments over $10,000 given to a trade or business from a single entity or individual. It’s not a common filing, but it’s one that’s critical for many companies and individuals. According to the IRS, generally, if you’re in a trade or business and receive more than $10,000 in cash in a single transaction or in related transactions, you must file Form 8300. This cash transaction encompasses cryptocurrency and can either be a one-time transaction or multiple transactions over a twelve-month period. The purpose of the form is to provide information to the IRS and the Financial Crimes Enforcement Network (FinCEN) in their efforts to combat money laundering within and outside of the United States. Money is “laundered” to conceal illegal activity, including crimes such as drug trafficking, tax evasion and terrorist financing.