[WSBARP] Cash Payment of Promissory Note

[Mark Anderson]

Dear Colleagues:

During the course of a non-judicial foreclosure, the debtor brought sufficient funds to my office to pay off the Note.  Part of the payment was in the form of cash that was more than $10,000.  I deposited all of the funds tendered into my IOLTA trust account for the benefit of my Client.

Do I need to file an IRS Form 8300 (Report of Cash Payments Over $10,000 Received in a Trade or Business)?  My initial answer is no because the funds are not mine and never were.

What are your thoughts on this?

Thanks for any insights about this.

Mark B. Anderson
ANDERSON LAW FIRM PLLC
821 Dock St  Ste 209  PMB 4-12
Tacoma, Washington 98402
+1 253-327-1750
+1 253-327-1751 (fax)
marka at mbaesq.com<mailto:marka at mbaesq.com>
www.mbaesq.com<http://www.mbaesq.com/>
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