Sometime last year I bought a car for $12,000 at a dealership and I received a letter from the IRS weeks later. I honestly do not remember what the letter said but I do know I got it because I did made a transaction over $10,000.
I feel like I should but shouldn't be worried about it. I received about $8,900 of that money from AllState because one of their clients totaled my car.
How could I receive another copy of that letter?
Should I be concerned?
Was I suppose to show that letter to my tax person when I file taxes?
I'm totally lost. Help.
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If you made a payment in cash for $10K or more the IRS is informed of the transaction by the bank ... that was an informational notice only and has nothing to do with your tax return.
If you made a payment in cash for $10K or more the IRS is informed of the transaction by the bank ... that was an informational notice only and has nothing to do with your tax return.
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