When Congress passed the Tax Reform Act of 1984 and the Anti-Drug Abuse Act of 1988, it required you to report certain cash payments. Essentially, you have been drafted to help in this effort, and if you refuse to comply with the law, there are civil and criminal penalties. As stated above, this law encompasses all types of entities engaged in a trade or business. Transactions not related to your trade or business are exempt from the reporting requirements. Also, transactions outside of the United States and its territories are exempt.
Property is rented.
Cash is exchanged for other cash. A contribution is made to a trust or escrow account. A loan is made or repaid. Cash is converted to a negotiable instrument, such as a check or a bond. Received in the course of trade or business.