IRS cracking down on reports of cash transactions over $10,000.

Because it perceives a decline in the number of cash-transaction reports filed, the IRS has begun nationwide audits of businesses affected by the cash-transaction reporting requirement.

If more than $10,000 in cash or certain cashlike monetary instruments (such as money orders) is received in the course of business, the recipient must file form 8300 with the IRS within 15 days of the transaction and must supply a statement to the payer by January 31 of the following year.

These entities may be subjected to IRS audits: antique dealers; car, motorcycle and boat dealers; art dealers; auction houses; law firms; jewelers; realtors; insurance agencies; and court clerks.