Why Form 8865 Transaction 2023-2024

Hello everyone. I've been asked this question a number of times, so I'm making a video to explain and show all the support and go into the nitty-gritty details of what is a reportable transaction for forum 5 for 72. This is for basically if you own a single member LLC in the US as a foreign person and you put money in your company bank account. You have to file this form. The penalty for not filing the form or for filing it late is $10,000. So you need to complete this form. To answer my question, the reportable transactions are the same if it's a foreign-owned corporation or if it's a foreign-owned LLC, with one exception. If it's a single member LLC, you will have to file this form. If you have a corporation and more than 25% of it is owned by a foreign owner, you also have to file this form to report the transactions. The reportable transactions include any type of transaction listed in part 4, such as sales of stock and trade inventory, sales of property, contributions, cost sharing transactions, rents, royalties, and any other consideration received. If you are an owner of a single member LLC and a foreign person, you need to report everything, including amounts paid or received in connection with the formation, dissolution, acquisition, and disposition of the entity. You need to file this form accurately and on time to avoid a $10,000 penalty. Make sure you get an extension if you can't file on time, otherwise file before April 15th. This form doesn't calculate taxes, so there's no reason not to file if you're required to do so. If you opened an LLC in 2018, you will have to file this form by April 15th, 2019. The specific instructions...