I missed U.S. personal filings tied to the LLC. Can I use the streamlined procedures even though the business is an LLC?
I live in Canada and the LLC itself has its own compliance file, but my bigger issue is that I may have missed owner-level U.S. filings and FBARs tied to the way I used the structure. Someone mentioned the streamlined filing procedures, but I am not sure whether those are for me or only for completely different cases.
I want to know whether the fact that there is an LLC in the picture stops me from using streamlined procedures, or whether the real question is whether I personally am the taxpayer with the missed filings.
Related Questions
My LLC only files Form 5472 with a pro forma 1120. On Form 7004 do I still use the 1120 code?
I am in Canada and my accountant is preparing an extension for my foreign-owned single-member LLC. Since the business is disregarded, I assumed there would be some special code for Form 5472 itself. B...
I qualified for the closer connection exception, but I missed the Form 8840 deadline. Did I just lose it?
I am a UK founder with a Wyoming LLC and I spent 146 days in the United States during the year, so I was careful about staying under the 183-day actual-presence limit for the closer connection excepti...
All the source documents exist, but there is no index tying them to the filed Form 5472. Is that still an audit problem?
Our file is not empty at all. In fact, it is almost the opposite problem: there is a large volume of supporting material, but nothing that clearly points from the filed numbers to the exact folders an...
Can I sign the pro forma 1120 abroad and fax the Form 5472 package from outside the U.S.?
I live in Dubai and will not be in the United States before the filing deadline. My preparer says the foreign-owned LLC filing package may need to be faxed to the IRS under the special Form 5472 rules...
I keep wiring money from my personal foreign account into the LLC. How do I decide whether that was capital or a loan for Form 5472?
I live in Brazil and own a single-member Delaware LLC. Over the last year I sent several personal wires into the company to cover software bills, contractors, and a few large formation costs. I never ...
My LLC is filing Form 5472, but does that mean I personally also file Form 1040-NR?
I live in South Korea and own a Delaware single-member LLC. My preparer is getting ready to file Form 5472 with the pro forma Form 1120 because I had owner funding and reimbursements during the year. ...
My accountant filed Form 7004 for the LLC. Does that also extend my own 1040-NR deadline?
I am a Spanish founder with a foreign-owned U.S. LLC, and my accountant filed Form 7004 because the Form 5472 package was not ready by the spring deadline. At first I felt relieved, but then I realize...
I meant to elect corporate treatment when I formed the LLC but never filed Form 8832. Can I backdate it now?
I am in Japan and formed a U.S. LLC almost a year ago. From day one I intended to treat it like a corporation for tax planning reasons, but I later realized Form 8832 was never actually filed. We alre...
When I move an app from personal ownership into the LLC, is the bookkeeping cutoff date as important as the platform transfer itself?
I am based in Spain and my app started under my personal accounts on Apple and Google. I now have a U.S. LLC and I am cleaning up the legal and tax side. My instinct was to focus on platform transfers...
The offset notice says the refund went to my spouse's old state tax debt. Does Form 8379 still apply when the debt is at the state level?
I am from Ireland and my spouse had an old state income tax issue from before we were married. We filed a joint federal return this year and expected a refund of around $4,900. Treasury then issued an...
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/moDisclaimer: 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.
