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IB Union Calendar No. 425 113TH CONGRESS 2D SESSION H. R. 5057 Report No. 113 574 To amend the Energy Policy and Conservation Act to permit exemptions for external power supplies from certain efficiency
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What is h r 5057?
H R 5057 is a form used for reporting foreign financial accounts over a certain threshold to the IRS.
Who is required to file h r 5057?
Any U.S. person who has a financial interest in or signature authority over foreign financial accounts totaling more than $10,000 at any time during the year is required to file h r 5057.
How to fill out h r 5057?
H R 5057 can be filled out online or by mail. It requires information about the account holder, the financial institution, and the highest value of the account during the year.
What is the purpose of h r 5057?
The purpose of h r 5057 is to combat tax evasion by ensuring that U.S. persons report their foreign financial accounts to the IRS.
What information must be reported on h r 5057?
Information such as the account holder's name, address, account number, type of account, and maximum value of the account during the year must be reported on h r 5057.
When is the deadline to file h r 5057 in 2023?
The deadline to file h r 5057 in 2023 is April 15th.
What is the penalty for the late filing of h r 5057?
The penalty for the late filing of h r 5057 can be up to $10,000 per violation, depending on the circumstances.
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