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M E M O R A N D U M TO:Francis G.×. PileggiFROM:Maura L. Predate:July 28, 2008RE:UPDATE: Research for a Pennsylvania Bar Institute presentation on Blogging For Lawyers Research for a Pennsylvania
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Maura L stands for a form used for reporting certain foreign assets.
US taxpayers who have certain foreign financial accounts or meet other specified criteria are required to file maura l.
To fill out maura l, taxpayers must provide information about their foreign financial accounts, including details such as account numbers, maximum value during the year, and the financial institution where the account is held.
The purpose of maura l is to report foreign financial accounts and assets to the IRS to ensure compliance with US tax laws.
Information such as the account holder's name, account number, type of account, the financial institution's name and address, and the maximum account value during the reporting period must be reported on maura l.
The deadline to file maura l in 2024 is typically June 30th of the following year, unless extended by the IRS.
The penalty for the late filing of maura l can be substantial and may vary based on several factors, such as the reason for the delay and the taxpayer's compliance history.
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