Thank you, Sam. Good day, everyone. Thanks for joining us. We're going to talk about the new FinCEN currency transaction report. One of the things I've heard regulators say over and over again is that the most frequent violation they find during BSA examinations is that the currency transaction reports are completed incorrectly. That's what we're going to work on, and that's exactly what we want to avoid. Sam has mentioned the fact that there are written materials in support of the program. One of the decisions that I made, and we'll chat about it a little bit, was to make sure that you were looking at the original source documents. In other words, you have primary resources to look over during this presentation. I can catch the place to start with the new currency transaction report with a new suspicious activity report as well. First of all, let's set the stage. Currently, the attention of GTR, the report only exists in electronic format. There are no more paper forms. There will be no more paper forms. As a matter of fact, FinCEN went back and edited the instructions to make sure that they used the term "report" where the appropriate term was going to appear. They want to make sure that we all understand that this is not a form anymore, it is an electronic data collection device. That's their terminology. And frankly, the more you study this document, the more clear that becomes. They have organized it to look like a form, but that's just for the psychological impact on you and me. It is really nothing more than typing information into ES and pushing to death, so that information will end up in their database. Just a little footnote, take a look at your policies and procedures and make sure...
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How to avoid 8300 Form: What You Should Know
The filing of your tax return is an important, routine business in your personal, business, and civic life. No one would deny you the enjoyment of this, of course — you are doing more to raise family income and to secure a better standard of living in the face of inflation than anyone living today! However, not all Americans are in the fortunate position to file a tax return for each year as it happens. In some cases, the tax collector’s obligation to collect taxes can become very cumbersome, and often, they have to come up with other sources of income. This is where Form 8300 comes in handy! How to Avoid Taxes on Your Income or Business by Using Form 8300 — The Wall Street Journal We have all heard the term, “form 990-NR.” This is the tax return you are supposed to file for your annual business tax filing. Some people choose to do just a minimal amount of business in a given year. They just file the 990-NR and pay all their taxes on that form. If you do just this, the IRS will notice you paid no business tax. However, this strategy isn’t a good one. If you do this, your personal tax return might be delayed more often than not while the business tax return is being processed. You can avoid the headaches of having your personal return delayed more often by using the Form 8300. Form 8300 to Avoid Reporting Taxes on Your Business or Income — Tax Day 2012 Don’t worry too much about the Form 990-NR, either. The most commonly recommended form for those of us who choose to make business or personal tax filings online this year is Form 8300. This form should be filed with the IRS ‹not online, and it should be sent to the IRS with your other forms. You pay your taxes by credit card, check, or wire transfer. How to Avoid Making and Paying Business Taxes by Using Form 8300 — American Express Business Credit Card Application Services Use Form 8300 to report your personal business taxes. You will save several dollars and some paperwork, while keeping some of the confidentiality that comes with filing by check; Form 923 for a single parent, Form 5500 for all other taxpayers. These will show up on the return as “Form 8300.” How to Avoid Reporting Business Income with Form 8300 — Form 2555 You do not need Form 8300 to report business income. You need Form 1040.
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