Foreign Entity Filings- Forms 8865 and 8858

August 29, 2018
8865 and 8858
U.S. taxpayers who do business globally are well aware of the tax implications involved. Forms 8865 and 8858 are lesser known, but important for foreign corporations to understand.

By Bethany Bouw, CPA

The fact that there are filing requirements to disclose foreign businesses often come as a surprise to many taxpayers. If you are familiar with the basics of international business, you may know this is true of foreign corporations. The same goes for partnerships, sole proprietors, other foreign disregarded entities and more. In many cases, taxpayers assume that if they keep most aspects of their business abroad, that the IRS will have no interest in them. Unfortunately, they are incorrect.

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