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II Calendar No. 83 111TH CONGRESS 1ST SESSION S. 1298 Report No. 111 31 Making appropriations for the Department of Homeland Security for the fiscal year ending September 30, 2010, and for other purposes.
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S 1298 - US refers to the section of the United States Internal Revenue Code that deals with reporting of ownership of foreign corporations by U.S. taxpayers.
U.S. taxpayers who own 10% or more of a foreign corporation are required to file s 1298 - us.
S 1298 - US is typically filed as part of the taxpayer's annual tax return. It requires reporting information about the foreign corporation and the taxpayer's ownership interest.
The purpose of s 1298 - US is to ensure that U.S. taxpayers accurately report their ownership interests in foreign corporations and comply with U.S. tax laws.
Information such as the name and address of the foreign corporation, the taxpayer's ownership percentage, and financial information about the corporation must be reported on s 1298 - US.
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