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Experimental Aircraft Association Chapter 27 News Next meeting Sunday, May 18, 10 a.m., Meriden-Markham Airport, Meriden, CT May 2008 Letter from the President A s you already know, Betty and I were

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What is s you already know?

S you already know is a form used to report certain financial transactions to the IRS.

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Individuals and businesses who participate in reportable financial transactions are required to file s you already know.

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The purpose of s you already know is to ensure that the IRS has accurate information about reportable financial transactions for tax compliance purposes.

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S you already know must include details about the parties involved in the financial transaction, the amount of money or property exchanged, and the date of the transaction.