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What is michael korman - acsac?

Michael Korman - ACSAC is a form used for reporting foreign financial accounts.

Who is required to file michael korman - acsac?

Any US person who has a financial interest in or signature authority over foreign financial accounts with an aggregate value over $10,000 at any time during the year.

How to fill out michael korman - acsac?

The form can be filled out electronically through the FinCEN website or by paper form and submitted to the IRS.

What is the purpose of michael korman - acsac?

The purpose of Michael Korman - ACSAC is to combat tax evasion by ensuring that US persons with foreign financial accounts report their holdings to the IRS.

What information must be reported on michael korman - acsac?

Information such as the name of the financial institution, account number, and highest value of the account during the reporting period must be reported.

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The deadline to file Michael Korman - ACSAC in 2023 is April 15th.

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The penalty for the late filing of Michael Korman - ACSAC can range from $250 to $10,000 depending on the circumstances.

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