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Spokane Folklore Society f o o t n o t e s March 2006 Volume 31 Electronic or Paper? The Choice is Yours! By David Recall, SFS Board Member The Spokane Folklore Society is pleased to offer Footnotes

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What is f o o t?

FOOT stands for Foreign Owned and Overeas Trusts.

Who is required to file f o o t?

Individuals and entities that meet certain criteria for owning foreign assets are required to file FOOT.

How to fill out f o o t?

You can fill out FOOT by providing information about your foreign assets and following the instructions provided by the tax authorities.

What is the purpose of f o o t?

The purpose of FOOT is to report foreign assets and ensure compliance with tax laws.

What information must be reported on f o o t?

Information such as the value of foreign assets, the country where they are located, and any income generated from those assets must be reported on FOOT.