Real Tax Questions, Expert Answers
Get answers to your foreign-owned LLC tax questions from ForeignLLCTax. Every answer includes IRS source citations and step-by-step guidance.
Pass-Through Entity Basics: Understanding QBI Deduction
I need help with the Qualified Business Income deduction: Pass-Through Entity Basics: Understanding QBI Deduction. How does it work and what are the carryover rules?
Head of Household for Non-Resident Aliens: Fast Decision Guide (Part 2)
I need help with my filing status: Head of Household for Non-Resident Aliens: Fast Decision Guide. What are the rules and how do I determine what applies to my situation?
Head of Household: Qualifying Person Time Requirements Explained
I need help with my filing status: Head of Household: Qualifying Person Time Requirements Explained. What are the rules and how do I determine what applies to my situation?
Foreign-Owned LLC Zero Income: Must You Still File Form 5472
I'm a foreign owner of a U.S. LLC and I'm trying to understand: Foreign-Owned LLC Zero Income: Must You Still File Form 5472. Can someone break this down in simple terms? I want to make sure I'm filin...
What Is the Name Field on Form 1120? How to Enter Your LLC Name Correctly
I'm preparing my pro forma Form 1120 and I need help understanding: What Is the Name Field on Form 1120? How to Enter Your LLC Name Correctly. What are the key rules I should follow to avoid processin...
Tax Return vs Information Return: Key Differences Explained
I'm new to U.S. taxes and need to understand: Tax Return vs Information Return: Key Differences Explained. Can someone explain this in straightforward terms?
Form 8832 Entity Classification Election: How It Works (Part 1)
I'm considering filing Form 8832 and need to understand: Form 8832 Entity Classification Election: How It Works. What are the implications and what mistakes should I avoid?
Does Where You Live Determine Your U.S. Tax Status? Form 5472 Filing Rules
I'm a foreign owner of a U.S. LLC and I'm trying to understand: Does Where You Live Determine Your U.S. Tax Status? Form 5472 Filing Rules. Can someone break this down in simple terms? I want to make ...
Form 5472 Common Mistakes: Avoid These Costly IRS Filing Errors
I'm a foreign owner of a U.S. LLC and I'm trying to understand: Form 5472 Common Mistakes: Avoid These Costly IRS Filing Errors. Can someone break this down in simple terms? I want to make sure I'm fi...
Which Foreign Taxes Qualify for the Tax Credit?
I'm trying to maximize my tax credits: Which Foreign Taxes Qualify for the Tax Credit?. How do I calculate and claim these credits correctly?
Filing Status When Spouse Passes Away: IRS Rules for Year of Death
I need help with my filing status: Filing Status When Spouse Passes Away: IRS Rules for Year of Death. What are the rules and how do I determine what applies to my situation?
Who Can Apply for an EIN? US vs Foreign Applicants Explained
I need to apply for an EIN: Who Can Apply for an EIN? US vs Foreign Applicants Explained. What's the process and what should I watch out for?
Essential IRS Forms and Due Dates Quick Reference Guide
I'm new to U.S. taxes and need to understand: Essential IRS Forms and Due Dates Quick Reference Guide. Can someone explain this in straightforward terms?
Installment Sales Introduction: Form 6252 Basics
I'm considering an installment sale: Installment Sales Introduction: Form 6252 Basics. How does Form 6252 work and how do I calculate the taxable gain?
Does Capitalization Matter on IRS Forms? ALL CAPS vs Lowercase (Form 1120 and 5472)
I'm preparing my pro forma Form 1120 and I need help understanding: Does Capitalization Matter on IRS Forms? ALL CAPS vs Lowercase. What are the key rules I should follow to avoid processing errors or...
FBAR Guide: FinCEN Report 114 for Foreign Bank Account Reporting
I have income from outside the U.S. and need guidance on: FBAR Guide: FinCEN Report 114 for Foreign Bank Account Reporting. What are my reporting obligations and how do I stay compliant?
General Business Credit Introduction and Overview
I'm trying to maximize my tax credits: General Business Credit Introduction and Overview. How do I calculate and claim these credits correctly?
Responding to a CP2000 Notice: Step-by-Step Guide
I received a CP2000 notice from the IRS: Responding to a CP2000 Notice: Step-by-Step Guide. What should I do and how do I respond properly?
Form 5471: Information Return for Foreign Corporation Ownership
I have income from outside the U.S. and need guidance on: Form 5471: Information Return for Foreign Corporation Ownership. What are my reporting obligations and how do I stay compliant?
When Must Your LLC File Form 5472? Avoid the $25,000 IRS Penalty
I'm a foreign owner of a U.S. LLC and I'm trying to understand: When Must Your LLC File Form 5472? Avoid the $25,000 IRS Penalty. Can someone break this down in simple terms? I want to make sure I'm f...
Form 8938 Introduction: FATCA Foreign Financial Assets Reporting
I have income from outside the U.S. and need guidance on: Form 8938 Introduction: FATCA Foreign Financial Assets Reporting. What are my reporting obligations and how do I stay compliant?
Single Member LLC Taxes: Everything You Need to Know (2025)
I'm choosing a business structure and want to understand: Single Member LLC Taxes: Everything You Need to Know. What are the tax and liability implications I should consider?
C Corp vs S Corp: Key Tax Differences Every Business Owner Should Know
I'm choosing a business structure and want to understand: C Corp vs S Corp: Key Tax Differences Every Business Owner Should Know. What are the tax and liability implications I should consider?
Form 8832 Entity Classification Election Complete Guide Part 5
I'm choosing a business structure and want to understand: Form 8832 Entity Classification Election Complete Guide Part 5. What are the tax and liability implications I should consider?
Due Dates for Decedent and Estate Tax Returns
I'm confused about tax deadlines: Due Dates for Decedent and Estate Tax Returns. When exactly do I need to file and what extensions are available?
Standard Deduction vs Itemized Deduction: Quick Comparison
I'm new to U.S. taxes and need to understand: Standard Deduction vs Itemized Deduction: Quick Comparison. Can someone explain this in straightforward terms?
Preparing Personal Information for Your Tax Return: Complete Checklist
I'm new to U.S. taxes and need to understand: Preparing Personal Information for Your Tax Return: Complete Checklist. Can someone explain this in straightforward terms?
Married Filing Separately: MFS Tax Calculation with Medical Bills and AGI Changes
I need help with my filing status: Married Filing Separately: MFS Tax Calculation with Medical Bills and AGI Changes. What are the rules and how do I determine what applies to my situation?
Foreign-Owned US Partnership EIN Application Guide Using Form SS-4
I need to apply for an EIN: Foreign-Owned US Partnership EIN Application Guide Using Form SS-4. What's the process and what should I watch out for?
AMT Credit Carryforward: Recovering Alternative Minimum Tax Paid
I'm worried about the Alternative Minimum Tax: AMT Credit Carryforward: Recovering Alternative Minimum Tax Paid. How do I know if this affects me and what can I do about it?
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