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This version of the form is not currently in use and is provided for reference only. Download this version of
IRS Form 8992 Schedule A
for the current year.
IRS Form 8992 Schedule A Schedule of Controlled Foreign Corporation (Cfc) Information to Compute Global Intangible Low-Taxed Income (Gilti)
What Is IRS Form 8992 Schedule A?
This is a tax form that was released by the Internal Revenue Service (IRS) - a subdivision of the U.S. Department of the Treasury on December 1, 2021. The document is a supplement to IRS Form 8992, U.S. Shareholder Calculation of Global Intangible Low-Taxed Income (Gilti). As of today, no separate filing guidelines for the form are provided by the IRS.
FAQ
Q: What is IRS Form 8992?
A: IRS Form 8992 is used to report Controlled Foreign Corporation (CFC) information and calculate Global Intangible Low-Taxed Income (GILTI).
Q: What is a Controlled Foreign Corporation (CFC)?
A: A Controlled Foreign Corporation (CFC) is a foreign corporation in which U.S. shareholders own more than 50% of the total voting power or value.
Q: What is Global Intangible Low-Taxed Income (GILTI)?
A: Global Intangible Low-Taxed Income (GILTI) is a category of income earned by U.S. shareholders of CFCs, generally related to intangible assets.
Q: What information is required on Schedule A of Form 8992?
A: Schedule A of Form 8992 requires detailed information about each CFC, including ownership percentages and financial data.
Q: How is GILTI calculated?
A: GILTI is calculated by subtracting a deemed return on tangible assets from the CFC's tested income.
Q: Who needs to file IRS Form 8992?
A: U.S. shareholders of Controlled Foreign Corporations (CFCs) who have GILTI income are required to file Form 8992.
Q: What is the deadline to file Form 8992?
A: The deadline to file Form 8992 is the same as the taxpayer's income tax return due date, including extensions.
Q: Are there any penalties for failing to file Form 8992?
A: Yes, failure to file Form 8992 or reporting incorrect information may result in penalties imposed by the IRS.
Q: Can I e-file Form 8992?
A: No, as of now, Form 8992 cannot be e-filed and must be filed by mail.
Form Details:
- A 2-page form available for download in PDF;
- Actual and valid for filing 2023 taxes;
- Editable, printable, and free;
- Fill out the form in our online filing application.
Download a fillable version of IRS Form 8992 Schedule A through the link below or browse more documents in our library of IRS Forms.
Download IRS Form 8992 Schedule A Schedule of Controlled Foreign Corporation (Cfc) Information to Compute Global Intangible Low-Taxed Income (Gilti)
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