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What is effective 517?
Effective 517 refers to a form used to report certain financial transactions to the IRS.
Who is required to file effective 517?
Financial institutions and individuals who have engaged in reportable transactions are required to file effective 517.
How to fill out effective 517?
Effective 517 can be filled out electronically or by mail, and must include detailed information about the reportable transactions.
What is the purpose of effective 517?
The purpose of effective 517 is to help the IRS monitor and track certain financial transactions to prevent tax evasion and money laundering.
What information must be reported on effective 517?
Effective 517 requires reporting of information such as the type of transaction, the parties involved, and the amount of money exchanged.
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