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THE RESUME Handbook o r C o FA s t u d e n t s an n d an l u m n fine Arts Career Services The University of Texas at Austin U T F A C S UTexas.edu/finearts/careersDFA 1.103 (512) 2327333 FACS Austin.
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What is f o r c?
The Foreign Bank Account Report (F O R C) is used by taxpayers who have foreign financial accounts to report those accounts to the IRS.
Who is required to file f o r c?
Any U.S. person who has a financial interest in or signature authority over foreign financial accounts with an aggregate value exceeding $10,000 at any time during the calendar year is required to file F O R C.
How to fill out f o r c?
F O R C can be filled out electronically through the Financial Crimes Enforcement Network's BSA E-Filing System.
What is the purpose of f o r c?
The purpose of F O R C is to combat tax evasion by ensuring that U.S. taxpayers with foreign financial accounts comply with reporting requirements.
What information must be reported on f o r c?
F O R C requires the disclosure of the taxpayer's foreign financial accounts, including the highest value of each account during the year.
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