Search This Blog

August 29, 2004

US Enterepreneurs Living Abroad May Need To File Special Forms

If you live abroad and have your own business, you may need to file special forms with your tax return. If you own more than 10% of a foreign corporation, you may be required to file Form 5471 or pay penalties of $10,000 US for each failure to file the form. This forms reports on the ownership, income and expenses of the foreign corporation.

If you operate through a foreign partnership, you may be required to file Form 8865 which reports on the ownership, income and expenses of that partnership. Again failure to file this form can result in a $10,000 per year penalty.

If you have a foreign bank account, stock market account, or other financial accounts that any tiem during the year had more than $10,000US in it or a group of such accounts, you must file Form TDF 90.22-1 which is not filed with your tax return, but is due 6/30 of each year. It reports information on the account and its ownership.

10 comments:

Jossie said...

Your blog is great! It's hard to find blogs with good content and people talking about Tax Return these days! I have a secret Tax Return Exposed if you want to come check it out

paige said...

I really liked the information on your blog about Tax Return I have my own Tax Return Exposedblog if you would like to come and see what I have on mine

Casper said...

I found a lot of useful info about Tax Return on your blog - thank you. I also have a new Tax Return Tips blog - please click over and have a look

job opportunitya said...

Wondrous blog. Your site was very pleasing and I
will go back again! I like surfing the net for blogs
as good as yours.
Where you been? You have got to look at my blog!

job opportunitya said...

Irresistible blog. I look for blogs like this one
when time allows me to. I enjoyed the site and I'll
check it next time!
Please go over my plastic surgery financing blog.

job opportunitya said...

Exciting blog. Your site was amazing and will be
back again! I never get tired of looking for blogs
just like this one.
I'm looking at the possibility of checking your tax attorney employment blog.

job opportunitya said...

I peep the web for blogs just like this one.
Airtight blog. Your site was off the chain and I will
return!
I want you to stop and compare with my household bank credit card blog.

job opportunitya said...

Astonshing blog. I relished in the site and you
know I will be going to it again! Surfing the internet
hepls me to find blogs that arfe just as good.
Please take a journey to my blog.

job opportunitya said...

Fine blog. I found your site suitable for another
visit! And when I'm able to surf the web, I look for
blogs as great as your work.
I know that you love my work so, look up my plastic surgery breast enlargement blog.

Breast Surgery said...

Nehmen Sie einen guten Blick an, was zu Ihnen am wichtigsten ist.Best Wishes, Marion breast enhancer pill