International Tax IssuesAnswered

What BIR forms do I need to file for my U.S. LLC income?

J6
jose_6b46new member
October 14, 2021 1,123 views 1 answer
philippinesBIR1701Q1701percentage taxVATself-employed

I earn income through my U.S. LLC and want to report it properly to the BIR. I'm registered as a self-employed professional. Do I file 1701Q quarterly? Do I need to register the LLC itself with the BIR? What about percentage tax vs VAT? My accountant mainly deals with local businesses and isn't sure about the foreign income aspects.

Related Questions

InternationalAnswered

I'm from the Philippines — how does my U.S. LLC get taxed?

I'm a Filipino citizen and tax resident in Manila. I set up a Wyoming LLC for my virtual assistant agency. I manage a team of VAs in the Philippines serving U.S. clients. What are my IRS and BIR oblig...

M9
maria_998a·Dec 11, 2023
1,8761
InternationalAnswered

Do I owe French social charges (cotisations sociales) on my U.S. LLC income?

My French accountant says I may owe social charges on my LLC income in addition to income tax. The cotisations sociales for self-employed workers in France can be 30-45% on top of income tax. If the L...

M8
marie_8a9a·Jul 2, 2022
1,3451
InternationalAnswered

What Korean NTS reporting is required for my U.S. LLC?

My Korean accountant says I need to file several reports with the NTS about my U.S. LLC beyond just my income tax return. He mentioned foreign financial account reporting, CFC reporting, and something...

SE
soyeon_e2ad·Jan 27, 2020
8761
InternationalAnswered

Do I need to file Spain's Modelo 720 for my U.S. LLC and bank account?

I've heard horror stories about Spain's Modelo 720 — massive penalties for late filing. The European Court of Justice ruled the penalties were excessive. Has this changed? I have a U.S. LLC with a ban...

L3
laura_3c39·Apr 22, 2022
1,6541
InternationalAnsweredFeatured

I'm from China — how does my U.S. LLC get taxed?

I'm a Chinese citizen living in Shenzhen and I recently formed a single-member LLC in Wyoming for my e-commerce business selling to U.S. customers. I have no physical presence in the U.S. and have nev...

WB
wei_b258·Nov 26, 2018
2,8471
InternationalAnswered

What do I need to know about filing Form 8621 for PFIC reporting?

I have investments in two foreign funds that I've now confirmed are PFICs. I've owned them for three years and never filed Form 8621. I'm terrified about the penalties. What information do I need to c...

B6
barbara_63bb·Apr 22, 2021
1,5671
InternationalAnswered

I transferred my software IP to my foreign corporation. Do I need Form 926?

I'm a U.S. person and I recently incorporated a company in Ireland for tax and business reasons. I transferred ownership of my software intellectual property (valued at approximately $2 million based ...

A6
alex_6959·Jan 21, 2020
1,2451
InternationalAnsweredFeatured

Green card holders: tax obligations for LLC owners

I recently received my green card and I own a single-member LLC. As a new permanent resident, I understand I now have to report worldwide income. What specific tax obligations do I have as a green car...

E0
elena_09f1·Oct 23, 2022
2,7801
InternationalAnsweredFeatured

I'm from India — how does my U.S. LLC get taxed?

I am an Indian citizen and tax resident living in Bangalore. I formed a single-member LLC in Delaware for my IT consulting business that serves U.S. clients remotely. I perform all work from India and...

AI
arjun_in_e886·Aug 7, 2023
3,1021
InternationalAnswered

How does Taiwan tax distributions from my U.S. LLC?

I transfer profits from my U.S. LLC to my Taiwanese bank account quarterly. My accountant in Taiwan is unsure whether to report this as business income or dividend income. Taiwan's tax treatment is di...

M3
meiling_3807·Jun 7, 2023
8761

Have a similar question?

ForeignLLCTax members get expert answers with IRS citations. One CPA consultation costs $200+. Full access is $9.99/month.

Become a Member — $9.99/mo

Disclaimer: All content on ForeignLLCTax.com is created by a tax professional and is provided for general educational and informational purposes only. It does not constitute tax, legal, or accounting advice, and should not be relied upon as such. Every tax situation is different — for advice specific to your circumstances, please consult a licensed CPA, Enrolled Agent, or tax attorney. By using this website, purchasing a subscription, or accessing any tools or services, you acknowledge that no client-professional relationship is established between you and ForeignLLCTax.com or its operators. This website is not affiliated with the IRS.

Watch the walkthroughs