"bigplayer" for your usual accurate response below regarding CTR's.
Am curious -for those who actually have IN FACT been CTR'ed -did they give you a copy of the form at that time or was it mailed to you later (by Jan 31 of the following year)?
Also -is IRS Form 8300 the form we are talking about?
Thanks again.
I would suggest you take a stroll through www.irs.gov then search for Form 8300 (as you posted) I believe that to be the correct form number, if not, search on gaming.
Print the form and read carefully, particularly the mice type.
We're talking about two Forms, one is a Currency Transaction Report - Nevada and the other is without the Nevada. You should also search for Nevada Regulation 6A, you'll know why when you read it.
Just to confuse you a little, there ARE casinos that are exempt from CTRs.
CTRs were created under the Bank Secrecy Act. They are intended to preclude money laundering by criminals, drug dealers, blah, blah. If you play at the CTR level, one would be well-advised to know what the nuances of this Report entail.
Regards,
Wildcard
I am aware of Form 8300 and IRS Pub 1544. I was not aware of the Nevada specific legislation and requirements (but will be soon).
BTW, Pub 1544 points out that a CTR'ed transaction does not neccessarily have to fall within one 24 hour period nor does it have to be for $10K or more.
If a casino felt that you were engaging in a series of related cash transactions extending over more than one 24 hour period, or, if they felt that your cash transactions which were LESS than $10K were "suspicious" in nature, they have the right (some would say obligation) to file a CTR.
Why would they want to make these leaps of judgement?
Maybe you just pissed them off!!
:)
"Am curious -for those who actually have IN FACT been CTR'ed -did they give you a copy of the form at that time or was it mailed to you later (by Jan 31 of the following year)?"
You're most likely not going to receive anything.
Form 8300, the Fed's CTR, does reguire that they give you a copy of the report that was filed. It has to be delivered (or mailed) no later than Jan 31 of the following year.
