This must be changing to a much lower amount.............notice I received stated ANY cash amount. ??????
diamonds; was this notice from your bank; the IRS; your state tax agency or some 'other' source? States CAN adopt stricter reporting requirements than the federal one for cash transactions in excess of $10,000, although I am not aware of any that have yet done so. The link provided above by Shorebreak references; in detail, the most current federal requirements (and was last updated by the IRS on May 30th of 2013). If it was from your bank or state tax agency; can you provide a link to the notice; or at least to the issueing agency's site; as I am curious to see their reasons for adopting a stricter cash limitation.