A tax person informed me that I am suppose to file an annual U.S. tax return for the CR corporation that I have my house and car in. I'd never heard this prior to now. Does anyone else do this or heard of this? Thanks.
- Expat Dave
Filing Tax Return for Costa Rica Corporations
ExpatDave
14 June 2017 20:51:46
600
GuestPoster0987
14 June 2017 21:04:55
0
Yes, even if you have no income from the property, forms must be filed declaring the "stock shares" that you own in a foreign corporation. IRS Form 5471 is used for this purpose in conjunction with Form 8938. There is no additional tax if no income, just a reporting requirement.
ExpatDave
14 June 2017 21:31:01
600
Thanks Redbeard!
ExpatDave
15 June 2017 22:21:44
600
redbeard wrote:Yes, even if you have no income from the property, forms must be filed declaring the "stock shares" that you own in a foreign corporation. IRS Form 5471 is used for this purpose in conjunction with Form 8938. There is no additional tax if no income, just a reporting requirement.
Do you have a tax person that you use that you can recommend? The person I am speaking with is saying $600 to correct the past years of not filing, etc. Seems extremely high to me considering there's income to contend with.
Thanks,
- Expat Dave
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