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ISIN this issue. . .
Page 2WelcomeHeartening praise from
inspectors and tenants Page 3Many happy returns to John
Smith CourtSheltered
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What is er 2 01?
ER 201 is a form used for reporting specified foreign financial assets to the IRS.
Who is required to file er 2 01?
U.S. taxpayers who have specified foreign financial assets that exceed certain thresholds are required to file ER 201.
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ER 201 can be filled out electronically using tax software or by hand. The form requires detailed information about the foreign financial assets being reported.
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The purpose of ER 201 is to help the IRS track foreign financial assets held by U.S. taxpayers to prevent tax evasion.
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Information such as the type of asset, its maximum value during the tax year, and any income generated must be reported on ER 201.
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