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STATEMENT OF INFORMATION 3/58 GOVERNMENT ROAD, FRANKSTON, VIC 3199 PREPARED BY KAREN DAY, US REAL ESTATE, PHONE: 0490 242 303STATEMENT OF INFORMATION Section 47AF of the Estate Agents Act 19803/58
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Karen Day (or K-1 Day) refers to a specific day designated for certain tax reporting and compliance requirements related to foreign accounts and entities in the United States.
Individuals and entities that have financial interests in or signature authority over foreign financial accounts or certain foreign entities are required to file Karen Day.
To fill out Karen Day, one must complete the appropriate forms, typically involving details about the foreign accounts or entities, and submit them to the IRS or relevant tax authority, ensuring all relevant information is included.
The purpose of Karen Day is to ensure compliance with U.S. tax laws regarding foreign financial assets and accounts, preventing tax evasion and promoting transparency.
Information that must be reported includes account numbers, names of financial institutions, account balances, and details regarding foreign entity interests.
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