What is IRS Form 5471?
Автор: JLD Tax
Загружено: 2022-08-23
Просмотров: 645
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What is IRS Form 5471?
If you are an officer, director, or shareholder of a foreign corporation, you may need to file Form 5471 to report the company's income, shares, and shareholder information. Not filing this form and not reporting your interest can lead to significant penalties. The penalties can be $30,000 a year, and hundreds of thousands, depending on how many years you have been filed, the corporation's value, and whether it has foreign bank accounts.
The IRS has voluntary disclosure programs that can allow you to avoid or reduce some of these penalties. It's really important that you get into a program before the IRS reaches out to you.
Get COMPLIANT. JLD Tax Resolution Group can help you easily solve a complex tax problem. Schedule your free consultation at 201-479-2572 or visit www.201tax.com.
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