The IRS now requires that some forms cannot be submitted on paper but must be e-filed. For some businesses, this e-filing requirement includes Form 8300. 

Form 8300 deals with reporting cash payments that are over $10,000. The IRS requires that all businesses that receive over $10,000 in cash during a tax year must report it to the IRS.  

Mandated E-Filing 

The IRS requires that the following business e-file Form 8300: 

Businesses that are required to file less than 10 information returns may still e-file, but it isn't required. 

Waivers and Exemptions 

Businesses may request a waiver if e-filing would cause an undue hardship. A business must submit Form 8508, Application for a Waiver from Electronic Filing of Information Returns.  

If the IRS grants a waiver, a taxpayer is excused from e-filing for that entire calendar year. These waivers must apply to all information returns. In other words, a business cannot request a waiver just to submit Form 8300 on paper. 

A waiver won't be needed when a business has to file less than ten information returns in a year. While these companies aren't required to e-file, they do have the option to e-file or submit the forms on paper. 

The IRS also allows a waiver from e-filing when it conflicts with a company's religious beliefs. In this situation, a taxpayer may submit a paper version of Form 8300. Each Form 8300 must have, on the center top of each form, the words ‘Religious Exemption.' 

Late Returns 

If a business fails to file Form 8300 on time, when they do submit it, they must submit Form 8300 the same way they would have if they had filed in a timely manner. If e-filed, the word ‘late' must be included in the comments section. If submitted on paper, ‘late' must be written at the top center of the form.  

If you need help, call Senior Partner, Tax Controversy Attorney, and former IRS attorney Brandon A. Keim at (602) 200-7399 or contact him online to discuss your options.