Services
Foreign Corporations
There are significant changes to international tax laws under the Tax Cuts and Jobs Act (TCJA). For foreign corporations either owned by a US taxpayer or owning a US taxpayer, Form 5471 and Form 5472 are likely required for the US tax reporting. Penalty charge on the delinquency is hefty. In addition to detailed schedules are added to the reporting of the form, GILTI and transition tax (only applied for certain years) might also be applicable.
F.A.Q.
We work with most of our clients remotely using online secured portal services. The client will be able to share information with security from anywhere in the world and review his/her tax returns remotely. We communicate with clients via phone, emails or virtual meetings.
Our service fee is transparent. We provide a flat fee for tax package based on complexity which includes federal and state tax filing and the relating international tax forms.
We are certified US tax experts but have some knowledge about foreign taxes from experience. We don’t prepare foreign tax returns but can work with foreign tax preparers to arrive at efficient global tax position.
Yes, we prepare entity tax returns especially with international presence. The size of entities that we work with is from small to medium.
Yes, we can assist with the IRS audit. We have experience with helping prepare a reasonable cause to request for a penalty waiver.
