By Suzan Flamm, Senior Counsel Jewelers Vigilance Committee
(NEW YORK) - Our industry has long been familiar with the obligation to report to the U.S. Treasury Department when sellers receive over $10,000 in cash. Some companies submit many 8300 Forms every year documenting these transactions, and others rarely receive large quantities of cash and thus only infrequently file. No matter the frequency of filing, however, the forms can be submitted electronically. Not only is this the method preferred by the government, it has several advantages over paper filings sent by mail.