However, what about when the same purchaser buys a second car one week later and provides enough cash to trigger the reporting requirement?
Since they are two separate vehicles, are those related transactions? What is the time period break for considering them unrelated transactions? • The car purchases are separate transactions unless the purchase of the second car was negotiated at the same time of the first car or the seller otherwise knows or has reason to know that the transactions are connected. • When an installment arrangement is established on a single transaction, the dealer must file a Form 8300 when cash payments received exceed $10,000 within a 12-month period. After filing the 8300, a new count of cash payments from the buyer would begin. • The time period break for considering transactions unrelated is 24 hours. What exactly can be said to a customer who inquires about IRS Form 8300 reporting? Some dealers are advised not to refer to IRS Form 8300 reporting in the presence of the customer. In particular, dealers are concerned that advising customers that they need information for an IRS 8300 report could deg
