Federal cash reporting requires dealers to file Form 8300 with the IRS within how many days of receiving $10,000 cash?

The correct answer is that dealers must file Form 8300 with the IRS within 15 days of receiving more than $10,000 in cash. This requirement is part of the federal regulations aimed at combating money laundering and ensuring that large cash transactions are reported for tax and regulatory purposes.

The 15-day timeframe allows the IRS to monitor significant cash transactions effectively, helping to identify patterns that could suggest illegal activities, such as tax evasion or funding of criminal enterprises. Timely reporting is crucial in maintaining compliance with the law, and failure to submit the form within this period can result in penalties for the dealer.

This timeframe is carefully outlined in the regulations, emphasizing the importance of prompt reporting in financial transactions involving substantial cash amounts.