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DISPOSAL Sedation Seminar: 10 11 June 2016 INFORMATION: All presentations and notes will be in English. CPD Certificates will be available after the seminar. VENUE: Wallenberg Research Center STIRS
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What is sosposa?
SOSPOSA stands for Statement of Specified Foreign Financial Assets, it is a form used to report specified foreign financial assets.
Who is required to file sosposa?
U.S. persons who meet the reporting threshold for specified foreign financial assets are required to file SOSPOSA.
How to fill out sosposa?
SOSPOSA can be filled out electronically through the IRS website or by mailing a physical copy to the IRS.
What is the purpose of sosposa?
The purpose of SOSPOSA is to help the IRS identify individuals who may have unreported foreign financial assets.
What information must be reported on sosposa?
Information such as the type and value of specified foreign financial assets must be reported on SOSPOSA.
What is the penalty for late filing of sosposa?
The penalty for the late filing of SOSPOSA is $10,000, with an additional $10,000 penalty for each 30-day period after receiving notice from the IRS.
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