Form 8865: Reporting Foreign Partnership Income
Navigating Rules for Allocable Share of Foreign Income
Recording of a 110-minute CPE webinar with Q&A
This webinar will provide tax advisers and return preparers with insights in handling complex challenges in completing Form 8865 and its associated schedules. The panel will explain approaches for correctly identifying taxpayer category, determining allocable share of foreign income, and avoiding serious, but common, mistakes.
Outline
- Purpose of Form 8865
- IRS enforcement and audit environment to date
- Preparation of Form 8865
- Schedules
- Difficult compliance issues related to Form 8865
Benefits
The panel will prepare you to:
- Understand the purpose of Form 8865, the categories of U.S. persons required to file, and gather data to correctly determine allocable share of partnership income
- Report the income and expense statements and balance sheets for taxpayers with 10% or more interest in a foreign partnership or flow-through LLC
- Grasp key U.S. international tax reporting rules and obligations of U.S. persons with interests in foreign partnerships
- Avoid audit red flags and common, serious errors that the Service looks for in Form 8865 and its schedules
Faculty
Alison N. Dougherty, J.D., LL.M.
Senior Tax Manager
Aronson
Ms. Dougherty specializes in corporate tax, partnership tax, international tax and real estate tax. She has expertise... | Read More
Ms. Dougherty specializes in corporate tax, partnership tax, international tax and real estate tax. She has expertise in international tax compliance with preparation and review of Forms 8865, 5471, 5472, 1120F, 8832, 1042, 1042S, 8804, 8805, 8813, 926, 1118, 1116, 5713, 3520, 3520A W-8, 8833 and FBAR. She also works with business and individual clients on a broad range of tax structuring, planning and controversy engagements.
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Charles K. Kolstad
Of Counsel
Venable
Mr. Kolstad focuses his practice on international tax, corporate, and partnership matters. He assists clients in... | Read More
Mr. Kolstad focuses his practice on international tax, corporate, and partnership matters. He assists clients in tax and corporate planning relating to the acquisition, disposition and restructuring of businesses, corporations and partnerships both domestically and internationally. He has advised numerous clients, accountants and business managers on dealing with unreported foreign financial accounts and foreign trusts, as well as the reporting requirements for U.S. tax payers with international business operations. Mr. Kolstad also advises foreign individuals moving to the U.S. on pre-immigration, income, gift and estate tax planning opportunities.
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