What is Form 8858 and does my foreign disregarded entity need it?
I'm a U.S. citizen living in the UK and I have a UK limited company that I elected to treat as a disregarded entity for U.S. tax purposes. My CPA mentioned I might need to file Form 8858 in addition to my regular 1040. I've never heard of this form before. What exactly does it report and what are the penalties for not filing it? I want to make sure I'm not missing something critical here.
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