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REPORT TO MAYOR AND COUNCILPRESENTED: FROM: SUBJECT:MARCH 11, 2024 REGULAR MEETING REPORT: 2448 FINANCE DIVISION FILE: 176020 SMITH ATHLETIC PARK DEVELOPMENT LOAN AUTHORIZATION BYLAW AND ALTERNATIVE
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Chapter 52 of the Internal Revenue Code governs the tax treatment of credit unions.
Credit unions are required to file chapter 52 with the IRS.
Credit unions must complete the appropriate forms provided by the IRS and submit them by the deadline.
The purpose of chapter 52 is to ensure that credit unions comply with tax laws and regulations.
Credit unions must report their income, expenses, and any other relevant financial information.
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