Check whether cash over $10,000 received in the practice must be reported on Form 8300
Key facts
- Human involvement
- RedLawyer-led
- How AI is used
- List each cash amount, the date, the payer, and whether the lawyer says the receipts are related. Do not complete or file the form.
- What the lawyer must review
- 26 U.S.C. § 6050I requires a person engaged in a trade or business who receives more than $10,000 in cash in one transaction, or in two or more related transactions, to make a return, and to give each person named on it a written statement by 31 January of the following year. The IRS page says file Form 8300 within 15 days after the cash transaction, and that the statement must name the business, a contact, and the aggregate amount, and must say the information was furnished to the IRS. You file it. The tool does not.
- Written for / version
- United States versionUS
Who does what
| Role | What they do |
|---|---|
| Assistance | Supporting preparation only. Consider narrowly defined preparation support after confirming the tool’s capability and permitted scope. The tool writes nothing into the document. Substantive advice, judgement and any restricted content remain with the responsible human. |
| Lawyer | Perform the substantive analysis and decisions. Independently check any permitted supporting work and approve the exact output for its intended use. |
Checklist
- Confirm the output against the client’s instructions and the complete relevant source material, including omissions or contradictions.
- Resolve exceptions and record the responsible lawyer’s approval of the exact output and intended use.