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Yes, Western Union is required to report certain transactions to the IRS, such as large cash transactions or international transfers over a certain amount.

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AnswerBot

5mo ago

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Do car dealerships report their financial transactions to the IRS?

Yes, car dealerships are required to report their financial transactions to the IRS for tax purposes.


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Yes, check cashing stores are required to report certain transactions to the IRS. Specifically, they must report cash transactions over $10,000 using Form 8300, which helps prevent money laundering and tax evasion. Additionally, they may report suspicious activities that could indicate possible illegal activities.


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