Condensed by Fran Bishop, NPA Government Relations Liaison from a prior NPA-GRC Update
By Sharon Rapoport Ever since Christian T. moved to the neighborhood, he had driven past the San Diego pawn shop countless times. He had even visited. However, he never thought of asking about the unique object he had pawned years ago. Since he was not able to retrieve it at the time, he figured it […]
The following is intended to help pawnbrokers prepare for the October 3, 2016 mandatory compliance date for the expanded Military Lending Act (MLA) regulations. This information is not intended as, and should not be used as, a substitute for guidance from your local lawyer.
Trades and businesses that receive more than $10,000 cash for their business transactions must report these payments to the Internal Revenue Service (IRS) within 15 days of the transaction using Form 8300, Report of Cash Payments Over $10,000 Received in a Trade or Business.