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COUNCIL OF THE EUROPEAN UNION Brussels, 20 July 2004 B PU 11412/04 Interinstitutional File: 2003/0252 (COD) LI LIMITED C TRANS 257 CODEC 900 OUTCOME OF PROCEEDINGS From : Council General Secretariat
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Trans 257 is a form used to report certain transactions to the Internal Revenue Service (IRS).
Entities or individuals who engage in reportable transactions as defined by the IRS are required to file trans 257.
Trans 257 can be filled out online or by mailing a paper form to the IRS. The form requires information about the parties involved in the transaction, the amount of money or property involved, and other relevant details.
The purpose of trans 257 is to help the IRS track and monitor certain types of transactions that may have tax implications.
Information such as names and taxpayer identification numbers of the parties involved, a description of the transaction, and the amount of money or property exchanged must be reported on trans 257.
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