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Sunday, December 1, 1985
Volume:
1
Issue:
4
Abstract:
In a news release dated December 27, 1985, the Internal Revenue Service has received from the Department of Treasury the right to review exemptions from filing Currency Transaction Reports (CTRs). Persons which regularly engage in cash transactions, such as restaurants and car washers, apply for and routinely receive exemptions from filing CTRs. The Treasury Department's Enforcement and Operations Branch until now has been monitoring exemptions from the reporting requirements (CTRs).