What Is Form 211: Application for Award for Original Information? Internal Revenue Service (IRS) Form 211 is an application that must be submitted to the IRS by a “whistleblower” who seeks to claim a reward for providing information about tax evasion to the U.S. government. If the IRS can recover funds based on a whistleblower’s
What Is Form 2439: Notice to Shareholder of Undistributed Long-Term Capital Gains? Form 2439 is an Internal Revenue Service (IRS) form that Regulated Investment Companies(RICs)–mutuals funds and exchange-traded funds–and Real Estate Investment Trusts (REITs) are required to distribute to shareholders in order to report undistributed long-term capital gains. Mutual funds are required to distribute most
What Is Form 2848: Power of Attorney and Declaration of Representative? Form 2848: Power of Attorney and Declaration of Representative is an Internal Revenue Service (IRS) document that authorizes an individual or organization to represent a taxpayer by appearing before the IRS—at an audit, for example. Federal law requires the IRS to keep confidential all
What Is SEC Form 3? SEC Form 3: Initial Statement of Beneficial Ownership of Securities is a document filed by a company insider or major shareholder with the Securities and Exchange Commission (SEC). It is an important step to help regulate insider trading, which is an individual’s buying or selling of a security based on
What Is Form 3903: Moving Expenses? Form 3903 is a tax form created by the Internal Revenue Service (IRS) for tax deductions related to moving expenses due to a new job. Since tax year 2018, you can only deduct moving expenses if you are a member of the Armed Forces on active duty and, due
What Are Foregone Earnings? Foregone earnings represent the difference between earnings actually achieved and the earnings that could have been achieved with the absence of fees, expenses, or lost time. As such, a large portion of foregone is represented by the amount that the investor spent on investment fees, which often make up a sizable percentage of
What Is FATCA? The Foreign Account Tax Compliance Act (FATCA) is a law that requires U.S. citizens living at home or abroad to file annual reports on any foreign account holdings they have. The main goal of FATCA is to stop tax evasion. The FATCA was passed in 2010 as part of the Hiring Incentives
What Is a Foreign Bond? A foreign bond is a bond issued in a domestic market by a foreign entity in the domestic market’s currency as a means of raising capital. For foreign firms doing a large amount of business in the domestic market, issuing foreign bonds, such as bulldog bonds, Matilda bonds, and samurai
What Is a Foreign Bank Branch? A foreign bank branch is a type of foreign bank that is obligated to follow the regulations of both the home and host countries. Because the foreign bank branch has loan limits based on the total bank capital, they can provide more loans than subsidiary banks. That is because
What Is the Foreign Corrupt Practices Act (FCPA)? The Foreign Corrupt Practices Act (FCPA, the Act) is a United States law that prohibits U.S. firms and individuals from paying bribes to foreign officials to further business deals. The FCPA contains two main articles: The anti-bribery provisions The books, records, and internal control provisions, which speaks to accounting
