Tax Code Section 6018

Tax Code Section 6018 authorizes the IRS to require certain individuals or entities to file additional tax returns or reports if they have foreign assets or operations. This helps ensure accurate reporting of income and assets held outside the U.S., especially for those who might not otherwise file such information. Essentially, it gives the IRS the authority to ask specific taxpayers to disclose their foreign financial details to comply with tax laws and prevent tax evasion.