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IT-631. Name(s) as shown on return. Taxpayer identification number. File this form with your personal income tax return, Form IT-201, IT-203, IT-204, or IT-205.
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What is form it-631?
Form IT-631 is a tax form used for reporting foreign financial assets held by U.S. taxpayers.
Who is required to file form it-631?
Any U.S. taxpayer who has foreign financial assets with an aggregate value exceeding a certain threshold is required to file Form IT-631.
How to fill out form it-631?
Form IT-631 can be filled out by providing information about the taxpayer's foreign financial assets, including the type of assets, their value, and any income generated from them.
What is the purpose of form it-631?
The purpose of Form IT-631 is to report foreign financial assets to the IRS in order to ensure compliance with U.S. tax laws.
What information must be reported on form it-631?
Information that must be reported on Form IT-631 includes the type and value of foreign financial assets, any income generated from those assets, and details about any foreign financial accounts.
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