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CHAPTER 910 COORDINATION OF PUBLIC TRANSIT SERVICES [Prior to 6/3/87, Transportation Department [820](09,A)Ch 2] 761910.1(324A) Definitions. For purposes of this chapter, the following definitions
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IS Form RE an FTA is a tax form used for reporting income and expenses associated with foreign trusts and foreign entities under the Foreign Accounts Tax Compliance Act (FATCA).
Individuals and entities that have foreign accounts or investments that meet certain thresholds are required to file IS Form RE an FTA.
To fill out IS Form RE an FTA, taxpayers must provide detailed information about their foreign accounts, including account numbers, types of accounts, and corresponding financial institutions, along with personal identification information.
The purpose of IS Form RE an FTA is to ensure compliance with U.S. tax laws regarding foreign financial assets and to report any income generated from these assets.
The information that must be reported includes account numbers, asset types, foreign financial institution names, balances, and any income earned from those foreign assets.
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