Also, does TextFormatRemove() eliminate carriage returns, tabs, etc?
You can use this calculation, but with the field name instead of self with the Replace Field Contents option found in the Records menu.
Or see this thread for a trick that can update the value in the field of most auto-enter calculations: Updating values in auto-enter calc fields without using Replace Field Contents
Carriage Returns and tabs are characters stored in your text field. TextFormatRemove will not remove them.
But substitute can.
The following expression removes all returns and tabs from a field, replacing them with a space character:
Substitute ( YourTextField ; [ ¶ ; " " ] ; [ Char ( 9 ) ; " " ] )