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I 1 4. OMB No 1545-1150 Return of Organization Exempt From of the Internal Form Under section 501(c), 527, lung benefit trust or privateIncome Tax Revenue Code or 4947(a)(1)foundation) (except black
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I 1 4 is a form used to report information on cash payments over $10,000 received in a trade or business.
Any individual or business that receives cash payments over $10,000 in the course of their trade or business is required to file i 1 4.
I 1 4 can be filled out either electronically or on paper. The form requires information such as the payer's and recipient's details, the amount of cash received, and the purpose of the payment.
The purpose of i 1 4 is to report large cash transactions to the IRS in order to prevent money laundering and tax evasion.
Information such as the payer's and recipient's names, addresses, and taxpayer identification numbers, as well as the amount and date of the cash payment, must be reported on i 1 4.
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