To amend the Internal Revenue Code of 1986 to prevent the avoidance of the requirement to file returns when businesses receive more than $10.000 in cash, and for other purposes.
Business Cash Reporting Compliance Act of 1990 - Amends the Internal Revenue Code with respect to returns required for cash received in trade or business to include as cash any monetary instrument (whether or not in bearer form) with a face amount of up to $10,000. Increases penalties for the intentional disregard of reporting requirements for such transactions, including the structuring of transactions to evade such requirements.
Directs the Secretary of the Treasury to study and report to specified congressional committees on compliance with this Act and the usefulness of such returns.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
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