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IN THE ILLINOIS INDEPENDENT TAX TRIBUNALCHICAGO, ILLINOIS HARVINDER SINGH, Petitioner, v. ILLINOIS DEPARTMENT OF REVENUE, ) ))))))))Defendant. No. Level IA DL 'LI “WI ! L “ITV 1BY: / FLL (PETITIONPetitioner,
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Start by gathering all the necessary information and documents, such as your personal details, income details, and supporting documents.
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Read the instructions provided with the form carefully to understand the requirements and guidelines for filling it out.
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Begin filling out the form by entering your personal information, including your name, address, contact details, and social security number.
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Move on to the income section, where you will need to provide details about your employment status, salary, and any other sources of income.
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Attach relevant supporting documents, such as pay stubs, bank statements, and tax returns, to validate the information provided in the form.
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FLL stands for Foreign Bank and Financial Accounts Report, which is a report required by the U.S. Treasury Department to disclose foreign bank accounts for tax compliance.
U.S. citizens and residents who have foreign financial accounts with an aggregate value exceeding $10,000 at any time during the calendar year are required to file FLL.
To fill out FLL, you must complete FinCEN Form 114, providing detailed information about your foreign bank accounts, including the name of the financial institution, account numbers, and maximum account balances.
The purpose of FLL is to prevent tax evasion and ensure that U.S. citizens report income earned in foreign accounts.
Information required includes your personal details, account numbers, names of foreign banks, maximum account balances, and the type of accounts held.
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