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What is cc-1 894?
cc-1 894 is a form used by the IRS to report certain foreign gifts and inheritances received by U.S. persons.
Who is required to file cc-1 894?
Any U.S. person who receives foreign gifts or inheritances with a total value exceeding $100,000 in a calendar year is required to file cc-1 894.
How to fill out cc-1 894?
cc-1 894 can be filled out online or by mail. The form requires information about the donor, the recipient, and details about the gift or inheritance.
What is the purpose of cc-1 894?
The purpose of cc-1 894 is to help the IRS enforce U.S. tax laws related to foreign gifts and inheritances.
What information must be reported on cc-1 894?
cc-1 894 requires information about the donor, the recipient, the relationship between the donor and recipient, and the value of the gift or inheritance.
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