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LONG FORM Fall 2014 BASF Basketball League Application Fall 2014 BASF Basketball League will start on Tuesday, September 9. Sponsoring Firm or Organization: Team Name: Team Captain: Captain s Signature:
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Long Form FALL BASF stands for Long Form Foreign Bank and Financial Accounts. It is a form that taxpayers must use to report their foreign financial accounts if the total value of all their foreign financial accounts exceeds $10,000 at any time during the calendar year.
Any U.S. taxpayer who has a financial interest in or signature authority over foreign financial accounts with a total value exceeding $10,000 at any time during the calendar year must file Long Form FALL BASF.
To fill out Long Form FALL BASF, taxpayers can use the official form provided by the IRS (Form 114). They must provide information about each foreign financial account they have, including the maximum value during the year and the account numbers.
The purpose of Long Form FALL BASF is to prevent tax evasion and money laundering by ensuring that U.S. taxpayers accurately report their foreign financial accounts.
Taxpayers must report the name of the foreign financial institution where the account is held, the account number, the maximum value of the account during the year, and other identifying information.
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