2020-2024 Form

Instructions and help about US Tax Form 8865 Return Of US Persons With Respect To

welcome to Esquire group's latest video taxation of foreign Partnerships and form 8865. so taxation of foreign Partnerships so U.S taxpayers citizens and residents as well as U.S entities are required to report their share of income from foreign Partnerships foreign Partnerships just like U.S Partnerships are what are called flow through entities meaning that the partnership itself is not a taxable entity so the partnership does not pay tax rather the income flows through to the partners and the partners pay tax on their respective share of partnership income now in terms of foreign partnership a lot of times that means that even U.S Partners have to pay foreign income taxes on their income from the foreign partnership and generally a U.S partner in a foreign partnership that paid foreign income taxes on partnership income will receive a tax credit in the United States for the foreign income taxes paid that's pretty straightforward right well one of the things that people often miss is