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NEWSLETTER 3THANK YOU August/September 2024We send a big thank you to StreetS mart for their donation of $1,000 and ladies clothing and knitted scarves donated by Mere Chen hall and Sam. Robin Brothers

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What is we send a big?

The 'We Send a BIG' refers to a form used by businesses to report transactions that meet certain thresholds to the IRS, typically related to foreign bank accounts.

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Entities or individuals with foreign financial accounts that exceed a specified threshold are required to file the 'We Send a BIG' form.

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The purpose of the 'We Send a BIG' filing is to prevent tax evasion by ensuring that individuals with foreign bank accounts report them to the IRS.

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Information such as the names of the foreign banks, account numbers, maximum account balances during the year, and the account holders' details must be reported on the 'We Send a BIG' form.

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