Hello, and welcome to JustAnswer.com
Whether or not you owe tax on these money orders depends on the reason you got them
If they are gifts, there is no tax
If you provided goods or services for the money order, then there is tax - but only to the extent that the money order exceeded your expenses
no, i did not provide goods and services
can you answer my second question, please
And the IRS will not be able to trace you cashing them
what's the deal with 500 reporting limit when buying money orders?
Purchasing money orders is different than cashing them
is there a reporting required for money orders over 500?
Not to my knowledge, there is no reporting required for money orders over $500
ok thank you