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.
Does Section 1446 partner withholding apply to my foreign-owned multi-member LLC in 2026?
I have a U.S. multi-member LLC taxed as a partnership. Two of the three partners are foreign. Does Section 1446 withholding apply to us for tax year 2026?
Can I get an EIN for my U.S. LLC in 2026 if I have no SSN or ITIN?
I formed a Wyoming LLC last month and need an EIN to open a Mercury bank account. I'm not a U.S. citizen or resident — no SSN, no ITIN. The IRS online application keeps rejecting me. What's the right ...
We used the wrong depreciation method for years. Is this a Form 1040-X problem or a Form 3115 problem?
Our small business has owned equipment for several years, and we recently realized the depreciation treatment was wrong from the start. One accountant says we should just amend the old returns. Anothe...
When is my Wyoming LLC annual report due in 2026?
My Wyoming LLC was formed February 16. I keep getting confused about whether the annual report is on the formation date, the start of the formation month, or some statewide due date.
Do I still need to file BOI in 2026 if I formed my LLC in a U.S. state?
I keep hearing different things about FinCEN's Beneficial Ownership reporting. I'm a foreign owner of a Wyoming LLC. Court rulings, interim rules — what's the current 2026 rule for U.S.-formed LLCs?
Our joint return showed tax due, not hidden income. Can equitable relief still help if my spouse promised to pay and never did?
I am from South Korea and filed jointly with my spouse when we were still operating a U.S. services business together. The return itself was not inaccurate, but it showed about $41,000 due. My spouse ...
When does my foreign-owned LLC trigger California sales tax nexus in 2026?
We sell physical products to California customers from outside the state. Do we hit California sales tax nexus, and if so, at what threshold?
Can my foreign-owned U.S. LLC trigger an FBAR in 2026 if it opens a bank account abroad?
My U.S. LLC needs a foreign bank account to receive payments in EUR. If I open one and the balance crosses $10,000, does the LLC have to file an FBAR for 2026?
Where do I check whether my country has a U.S. income tax treaty in force for 2026?
Different sources give different answers about whether my country has a U.S. tax treaty. What's the official, primary source I should be checking before claiming a treaty rate?
Our joint refund was taken for my spouse's student loan. Is Form 8379 the right fix or is that only for tax debts?
I am from France and filed a joint return with my spouse. We were expecting about a $6,400 refund, mostly from my wage withholding and our child-related credits. Instead, the entire refund disappeared...
When does my foreign-owned LLC actually have to file Form 1042 for 2026?
I keep seeing Form 1042 mentioned but I can't tell when it actually applies to my LLC. Foreign ownership alone? Or only when we pay foreign people? What's the trigger for 2026?
I just got my first IRS collection letter on a joint return problem. Does that start the two-year Form 8857 clock?
I am originally from India and filed a joint return with my former spouse while we were still together. The balance due was tied mostly to her business income, and I recently received the first IRS co...
My wife is a U.S. resident and I am still a nonresident in the UK. Can we really file one joint return if I was never a U.S. resident this year?
I am a UK founder with a Delaware LLC and around $96,000 of foreign consulting income. My wife lives and works in New York and files as a U.S. resident. I stayed nonresident for U.S. tax purposes all ...
Did the One Big Beautiful Bill Act actually become law before tax year 2026?
I keep seeing references to OBBBA / H.R. 1. Is it law, or still pending? Does it affect tax year 2026 planning?
I claimed Section 179 on a vehicle, but business use fell sharply this year. Do I have to give some of it back?
I bought a vehicle for my business and claimed a Section 179 deduction in the first year because the business-use percentage was well above 50%. This year my circumstances changed and personal use is ...
I live in Dubai and thought June 15 was automatic. Do I still need to prove I qualify, and is postmark enough?
I am a U.S. resident alien living and working in Dubai while running an overseas software business. I always heard that people abroad get until June 15 automatically, so I never paid much attention to...
My 1040-NR has ECI from U.S. consulting through an LLC. Can I actually claim QBI as a nonresident?
I am from Singapore and file Form 1040-NR because I am still a nonresident for U.S. tax purposes. My foreign-owned LLC had about $118,000 of income that my preparer says is effectively connected with ...
I relinquished U.S. citizenship years ago, never filed, and only recently learned about Form 8854. Can the former-citizen relief procedures still help?
I am living in Portugal and gave up U.S. citizenship after 2010. I never filed U.S. returns because I genuinely did not understand that I still had annual obligations while I was abroad. My finances a...
I am surrendering my green card after many years abroad. Does Form I-407 automatically finish the tax side, or do I still need Form 8854?
I am from Argentina and held a U.S. green card for years, although I lived outside the United States for much of that time. I am now planning to file Form I-407 because I do not intend to keep the gre...
I live abroad and got a CP2000. What is the actual response window and what should go into the first packet?
I am based in Hong Kong and received a CP2000 tied to my 2024 U.S. return. The notice is already stressful enough, but the harder part is knowing how much time I really have from outside the United St...
The CP2000 says I underreported income, but the payer already withheld under Form 1042-S and a treaty rate. How do I answer that cleanly?
I am from South Korea and received a CP2000 tied to a Form 1042-S from a U.S. platform. The platform withheld at treaty rate and the return used that same income and withholding in a structured way, b...
I pay high U.K. tax on consulting income. Should I use Form 2555 or Form 1116 after becoming a U.S. resident?
I am a U.K. citizen who became a U.S. resident during 2025 after moving to Austin. My consulting income is still mostly from U.K. clients and the U.K. tax burden is high. One preparer suggested Form 2...
I arrived in the U.S. late in 2025 but will clearly meet substantial presence in 2026. Can I use the first-year choice for my LLC salary period?
I am from Brazil and moved to Miami on November 3, 2025. Before that I lived and worked entirely in Sao Paulo. My U.S. LLC started paying me salary after I arrived, and I also had about $42,000 of for...
A non-U.S. customer wants to use crypto to pay us from a Russia-linked wallet. Do sanctions rules still apply even though the payment is not in dollars?
We are a U.S.-touching crypto business and a customer is trying to settle in virtual currency from a wallet that raises Russia-related sanctions concerns. One manager suggested that because no U.S. do...
Our startup only buys and sells crypto for its own treasury. Are we a FinCEN money transmitter or just a user?
We are a crypto startup with a U.S. entity, but the business model right now is not customer-facing. We buy and sell digital assets only for the company's own account and do not accept customer funds ...
We pay a U.S. freelancer in USDT. Do we still need a W-9 and backup withholding review?
Our foreign-owned LLC pays one U.S. contractor in USDT because they prefer it, and someone internally argued that because the payment is in digital assets we do not need the usual W-9 and backup withh...
My LLC only bought Bitcoin and held it. Do I still answer 'Yes' to the digital assets question on the return?
I run a foreign-owned Wyoming LLC and during the year we bought Bitcoin as a treasury asset, but we never sold it, exchanged it, or paid anyone with it. We also did not receive any staking rewards or ...
My foreign company made profit but paid me nothing. Can I still have GILTI on Form 8992?
I am a U.S. individual shareholder of a foreign company that retained all earnings this year to fund growth. There were no dividends, no shareholder loans, and no personal withdrawals. That made me as...
Two U.S. founders each own 45% of a foreign corporation, and a foreign angel owns the other 10%. Is it a CFC?
My cofounder and I are both U.S. taxpayers, and we each own 45% of a foreign corporation. A foreign angel investor owns the remaining 10%. No one person owns more than 50%, which made us think we migh...
I own 80% of a foreign startup directly. Do I file Form 5471 as Category 4, Category 5, or both?
I am a U.S. person living in California and directly own 80% of a foreign software company in Singapore. The company is early-stage, has no distributions, and most of the discussion so far has been ab...
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