“As you can tell by the title this commentary is our third revision at understanding what the government had in mind when IRS reporting rules for cash transactions came up on the radar screen more than 30 years ago. This subject has to be one of the most misunderstood and misrepresented in the trade today so I can’t figure out why you don’t see more about these rules? The reason might be that these mystical directions while holding sway over dealers are a poorly written mess which should have been avoided or at least provided with updating options. With mistrust of government reaching new highs these famous reporting rules become more important.”
