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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 8993
for the current year.
IRS Form 8993 Section 250 Deduction for Foreign Derived Intangible Income (Fdii) and Global Intangible Low-Taxed Income (Gilti)
What Is IRS Form 8993?
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, 2018. Check the official IRS-issued instructions before completing and submitting the form.
FAQ
Q: What is IRS Form 8993?A: IRS Form 8993 is a tax form used to claim deductions for Foreign Derived Intangible Income (FDII) and Global Intangible Low-Taxed Income (GILTI).
Q: What is Foreign Derived Intangible Income (FDII)?A: Foreign Derived Intangible Income (FDII) is the income derived from sales or services provided to a foreign person or foreign entity that is outside of the United States.
Q: What is Global Intangible Low-Taxed Income (GILTI)?A: Global Intangible Low-Taxed Income (GILTI) is the income earned by a U.S. shareholder from foreign companies that are subject to a low rate of taxation.
Q: What is the purpose of claiming deductions for FDII and GILTI?A: The purpose of claiming deductions for FDII and GILTI is to reduce the amount of taxable income and potentially lower the tax liability for businesses operating internationally.
Q: Who is eligible to claim deductions for FDII and GILTI?A: Businesses that have income from sales or services provided to foreign persons or entities, and U.S. shareholders who receive income from foreign companies subject to a low rate of taxation, may be eligible to claim deductions for FDII and GILTI.
Q: What information is required to complete IRS Form 8993?A: To complete IRS Form 8993, you will need to provide details of the qualifying income, deductions, and adjustments related to FDII and GILTI.
Q: When is the deadline to file IRS Form 8993?A: The deadline to file IRS Form 8993 is typically the same as the deadline for filing the annual federal income tax return, which is April 15th for most taxpayers.
Q: Can I e-file IRS Form 8993?A: Yes, IRS Form 8993 can be e-filed using electronic tax filing software or through a tax professional.
Q: Is there a fee for filing IRS Form 8993?A: There is no specific fee for filing IRS Form 8993. However, if you use a tax professional or tax preparation software, there may be associated fees.
Form Details:
- A 1-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.
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