
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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