Reporting Cash Transactions Policy & Procedures (FA 181)

FA 181 states the IRS requires that the receipt of any single cash payment or series of payments on a related transaction within a 12-month period that exceed $10,000 must be reported to the IRS. In the University setting, the most frequent payment of this type would be tuition. A single tuition payment or a series of payments exceeding $10,000 must be reported.

  • Tax