Do car dealerships report to IRS?
Do car dealerships report to IRS? Specifically, auto dealerships are required to file Form 8300, Report of Cash Payments Over $10,000 Received in a Trade or Business,with the IRS within 15 days of receiving more than $10,000 in a single cash transaction. Form 8300 also must be filed if the total for two or more related transactions exceeds $10,000. Do car dealers have to tax cars? A. No, dealers will have to register in their own name and tax the vehicle. If used for a valid 'trade plate' reason, then the current trade plate rules apply and the vehicle does...