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ARTICLE IV. ACCUMULATION OF JUNK, TRASH, VEHICLES, ETC.* Page 1 of 7 Articles IV. ACCUMULATION OF JUNK, TRASH, VEHICLES, ETC.* *Cross-references: Solid waste, ch. 66; traffic and vehicles, ch. 86.
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Article IV accumulation refers to the accumulation of financial assets beyond a certain threshold established by the Internal Revenue Service (IRS).
US taxpayers who are considered to be in violation of the foreign asset accumulation rules outlined in Article IV of the IRS tax code.
Article IV accumulation can be filled out by using the relevant tax forms provided by the IRS, such as Form 8938.
The purpose of Article IV accumulation is to prevent tax evasion by requiring taxpayers to disclose their foreign financial assets.
Taxpayers must report details of their foreign financial assets, including account balances, investment income, and the location of the assets.
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