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INDIANA DEPARTMENT OF
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Who needs form 11458?
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Form 11458 is needed by individuals or organizations who are required to report certain financial transactions to the Internal Revenue Service (IRS).
02
It is specifically used for reporting cash payments received in a trade or business totaling $10,000 or more in a single transaction or related transactions.
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Those engaged in businesses such as car sales, real estate, attorneys, accountants, and other professionals who receive large cash payments may need to fill out this form.
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What is form 11458?
Form 11458 is a tax form used for reporting certain information related to foreign accounts and assets.
Who is required to file form 11458?
Individuals or entities who have foreign accounts or assets exceeding a specific threshold are required to file form 11458.
How to fill out form 11458?
To fill out form 11458, taxpayers must provide personal information, details about foreign accounts, and any required financial information.
What is the purpose of form 11458?
The purpose of form 11458 is to ensure compliance with U.S. tax laws regarding foreign financial assets and accounts.
What information must be reported on form 11458?
Form 11458 requires information such as the taxpayer's identity, details of foreign accounts, the account numbers, and balances.
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