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Sort stands for Statement of Reportable Transactions. It is a form used to report certain transactions to the tax authorities.
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Any taxpayer who has engaged in reportable transactions as defined by the tax authorities is required to file sort.
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The purpose of sort is to disclose certain transactions that may have tax implications and to ensure transparency in financial reporting.
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Sort typically requires details of the parties involved in the transaction, the nature of the transaction, and the amount involved.
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