Form 8858 Memphis Tennessee 2024-2025

Form 8858 Memphis Tennessee: What You Should Know

For more than ten years, I have specialized in international compliance. My qualifications with respect to compliance issues related to U.S.-domiciled foreign corporations include: Expertise in information reporting and tax law Knowledge of the IRS systems Experience with IRS forms and publications and administrative requirements Additional Information You Will Need to File If you own a foreign disregarded entity (FEE) and have income or profits in any foreign country, you will need to file Form 8858 if you have a FEE. The IRS may require you to attach forms for foreign tax credit planning; these are discussed on page 13 of IRM 1.5.1.3.1 Income Tax Withholding, Forms W-4 and W-8-HB (W12), and Forms 1099. For more details, see the related topics under Forms 5471, 1088, and 1166 and Forms 8858, Foreign Tax Credit Planning, and Form 1118 (and other applicable forms with similar reporting requirements). Other Issues Related to Form 8858 and Foreign Disregarded Entities If you own a foreign disregarded entity (FEE) that is considered a disregarded entity of U.S. income tax purposes, you will report the FEE on page 13 of IRM 1.5.1.3.1. On IRS Form 8858, you will need to report the FEE's gross income and its tax basis and foreign tax credit. If you own a FEE that is non-U.S. owned (FEE) if you do not have a US FEE (as reported on your tax return), you should complete Form 8858. Information in the Instructions for Form 8858 is general guidance and may not reflect all issues that may require a tax return. If your situation does not appear for which guidance has been provided, complete Form 8858 and include it with the tax return. Be sure to complete the following items on the Form 8858: (a) The name of the FEE; (b) The name and location for your FEE; (c) The date you transferred ownership to the FEE; (d) The name of the foreign tax shelter owner (IFS) or foreign FEE that is treated as a FEE for U.S.

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