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1SATURDAYNITELIVEGROUP STEERINGCOMMITTEEANDBUSINESSMEETINGMINUTES October11,2014 GroupChairpersonopenedthemeetingwithamomentofsilenceandSerenityPrayer AmemberreadthelongformoftheAATraditions TheGroupSecretarycalledSteeringCommitteeroll
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What is baskets4500?
Baskets4500 is a form used to report information about financial accounts held by U.S. taxpayers in foreign countries.
Who is required to file baskets4500?
Any U.S. person who has a financial interest in or signature authority over foreign financial accounts exceeding $10,000 at any time during the calendar year is required to file baskets4500.
How to fill out baskets4500?
Baskets4500 can be filled out online through the Financial Crimes Enforcement Network (FinCEN) website by providing information about the foreign financial accounts, including the account number, name of the financial institution, and maximum value during the year.
What is the purpose of baskets4500?
The purpose of baskets4500 is to prevent tax evasion and money laundering by providing transparency on foreign financial accounts held by U.S. taxpayers.
What information must be reported on baskets4500?
Information such as the account number, name of the financial institution, account balance, and maximum value during the year must be reported on baskets4500.
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