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2016 Gulf Coast Council Leader Recognition and Eagle Class Banquet When: Saturday, January 30, 2016, at 5:30 pm Where: First Baptist Church of Pensacola, Chile Hall 500 N. Paradox Street, Pensacola,
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t r s x stands for Report of Foreign Bank and Financial Accounts (FBAR), which is required to report foreign financial accounts.
United States persons, including citizens, residents, entities, and certain non-resident aliens, who have a financial interest in or signature authority over foreign financial accounts exceeding certain thresholds.
The FBAR form can be filled out online through the Financial Crimes Enforcement Network (FinCEN) website. It requires information about the account, including the account number, name on the account, and maximum account value during the year.
The purpose of the FBAR is to combat tax evasion by providing the U.S. government with information about foreign financial accounts held by U.S. persons.
Information such as the account number, name on the account, the financial institution, account type, and maximum account value during the year must be reported on the FBAR.
The deadline to file the FBAR for the year 2024 is April 15, 2025.
The penalty for the late filing of the FBAR can be up to $12,921 per violation, with additional penalties possible for willful violations.
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