https://www.taxtmi.com/forum/issue?id=117352 The creditor is not impacted by debtors depositing cash directly into the creditor's bank account; legal risk lies with the payors. Cash receipts by debtors can violate statutory cash payment restrictions when daily cash receipts exceed the prescribed limit, and larger single instance cash receipts may invoke the prohibition on cash loans/repayments and corresponding information return and statement of financial transactions reporting obligations under the tax law. en-us Fri, 16 Jul 2021 12:59:52 +0530 Thu, 23 Jan 2025 15:54:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=117352 The creditor is not impacted by debtors depositing cash directly into the creditor's bank account; legal risk lies with the payors. Cash receipts by debtors can violate statutory cash payment restrictions when daily cash receipts exceed the prescribed limit, and larger single instance cash receipts may invoke the prohibition on cash loans/repayments and corresponding information return and statement of financial transactions reporting obligations under the tax law. Discussion-Forum Income Tax Fri, 16 Jul 2021 12:59:52 +0530 https://www.taxtmi.com/forum/issue?id=117352