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Texas Finance Code - FIN § 271.002. Reporting Requirement for Cash Receipts of More Than $10,000

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) A person engaged in a trade or business who, in the course of the trade or business, receives more than $10,000 in one transaction or in two or more related transactions in this state and who is required to file a return under Section 6050I, Internal Revenue Code of 1986 (26 U.S.C. Section 6050I), or 26 C.F.R. Section 1.6050I-1, and their subsequent amendments, shall file a copy of the return with the attorney general.

(b) A person who timely files the return described by Subsection (a) with the appropriate federal agency as required by federal law complies with that subsection unless the attorney general:

(1) notifies the person that the return is not of a type that is regularly and comprehensively transmitted by the federal agency to the attorney general;  and

(2) requests that the person provide the attorney general with a copy of the return.

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Cite this article: FindLaw.com - Texas Finance Code - FIN § 271.002. Reporting Requirement for Cash Receipts of More Than $10,000 - last updated January 01, 2024 | https://codes.findlaw.com/tx/finance-code/fin-sect-271-002/

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