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What is rcp?

Rcp stands for Report of Cash Payments Over $10,000 Received in a Trade or Business.

Who is required to file rcp?

Any individual or business that receives cash payments over $10,000 in a single transaction or related transactions within a year is required to file rcp.

How to fill out rcp?

Rcp can be filled out online through the IRS website or by submitting a paper form to the IRS.

What is the purpose of rcp?

The purpose of rcp is to help prevent money laundering and track large cash transactions.

What information must be reported on rcp?

The rcp must include the name, address, and social security number of the individual making the payment, as well as the amount and date of the transaction.

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