Get the free Instructions for Form 8992 (12/2021)Internal Revenue Service

SCHEDULE A (Form 8992) (Rev. December 2022) Department of the Treasury Internal Revenue ServiceSchedule of Controlled Foreign Corporation (CFC) Information To Compute Global Intangible Located Income

How to fill out instructions for form 8992

How to fill out instructions for form 8992

1. Obtain Form 8992 from the IRS website or from a tax professional.
2. Read the instructions carefully to ensure you have all necessary materials and information.
3. Begin by filling out your name, address, and tax identification number in the indicated sections.
4. Depending on your specific situation, complete the remaining sections of the form, including any applicable calculations or explanations.
5. Double-check your work for accuracy and completeness before submitting the form to the IRS.

Who needs instructions for form 8992?

1. Taxpayers who have income derived from specified agricultural or horticultural cooperatives may need instructions for form 8992.
2. Business owners who are eligible for the Section 199A deduction related to qualified business income may also require guidance on filling out this form.

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What is instructions for form 8992?

Instructions for Form 8992 provide guidance on how to report the Global Intangible Low-Taxed Income (GILTI) of a controlled foreign corporation (CFC).

Who is required to file instructions for form 8992?

U.S. shareholders of controlled foreign corporations (CFCs) are required to file Form 8992 if they have GILTI in the tax year.

How to fill out instructions for form 8992?

To fill out Form 8992, follow the step-by-step instructions provided in the form's official instructions, including providing required income details, GILTI calculations, and designating any applicable deductions.

What is the purpose of instructions for form 8992?

The purpose of Form 8992 instructions is to ensure proper reporting of GILTI for U.S. tax purposes to avoid penalties and ensure compliance with tax laws.

What information must be reported on instructions for form 8992?

Information that must be reported includes the income from foreign corporations, the shareholder’s share of income, deductions, and any adjustments related to GILTI.