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Automates
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What is automates?
Automates is a tax form used to report information about certain financial accounts.
Who is required to file automates?
Financial institutions are required to file automates.
How to fill out automates?
Automates can be filled out electronically using the IRS's e-file system.
What is the purpose of automates?
The purpose of automates is to help prevent tax evasion by ensuring that income earned from foreign accounts is properly reported.
What information must be reported on automates?
Information such as the account holder's name, address, account number, and the maximum value of the account during the reporting period.
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