Cash Payments of Over $10,000
The University of Tennessee is required by the Internal Revenue Service to report any cash payments received in excess of $10,000 in one transaction or in two or more related transactions. The information must be reported to the IRS via Form 8300 by the 15th day after the date the cash is received. Severe penalties may be imposed if this information is not reported accurately and timely.
- Form 8300 Reporting Procedures
- Form 8300 Reporting Procedures Flowchart
- IRS Publication 1544
- Memo to Provide to Payers of Cash to the University
- Blank Form 8300
- Sample Form 8300
If you need additional information, please contact firstname.lastname@example.org.