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FOOTHILL/EASTERN TRANSPORTATION CORRIDOR AGENCY AND SAN JOAQUIN HILLS TRANSPORTATION CORRIDOR AGENCYContracts and Procurement Services Policies and Procedures Manual as approved by the Boards February
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FETCA stands for Foreign Electronic Transactions Compliance and Assurance, while SJHTCA stands for Specified Jurisdiction Hybrid Transaction Compliance and Assurance. These contracts are related to reporting requirements for certain international transactions.
US taxpayers who engage in foreign electronic transactions or specified jurisdiction hybrid transactions are required to file FETCA and SJHTCA contracts.
To fill out FETCA and SJHTCA contracts, taxpayers must provide detailed information about their foreign electronic transactions or specified jurisdiction hybrid transactions as specified by the IRS.
The purpose of FETCA and SJHTCA contracts is to ensure compliance with IRS reporting requirements for international transactions and to prevent tax evasion.
Taxpayers must report detailed information about their foreign electronic transactions or specified jurisdiction hybrid transactions, including the amount, nature, and parties involved.
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