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hey Anthony we're back and continuing our forum 54 71 series part 1 was what's a foreign corporation controlled foreign corporation excuse me we talked about the crazy history we talked about the penalties and although the IRS isn't going after people yet the penalties can build up fast so that's a great video to watch today we want to talk about filing categories which is wacky mm-hmm and the first question is why do you need to know what category type you are right it's sort of you know it's a common question people want to know is what category form 54 71 am i this is one thing was a as soon as people learn about it they see that there's a category well there are the categories this is the the it's sort of kind of backwards because I would I would kind of do it a little backwards I would say well there's a whole bunch of different schedules mm-hmm you have to file depending on what your category status is okay so that's why you want to know what category you are got it now the first

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