New U.S. International Tax Reporting Disclosures Required on 2016 U.S. Federal Form 1065 Partnership Tax Return

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Remember when international reporting disclosures required on U.S. Federal Form 1065 partnership tax returns were focused on foreign partner tax withholding? In 2017, partnerships that file U.S. federal partnership tax returns for the 2016 tax year using Form 1065, must make more extensive international tax reporting disclosures. Here are some items to pay close attention to on Form 1065.

  • Page 2, Line 10: the partnership must disclose whether it owned or had signature authority over any foreign accounts and whether it is required to file the FinCEN Form 114 Foreign Bank Account Report (FBAR). If the answer to this question is …read more

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