Tue, 29 Nov 2011 15:45:01 +0900. For the record, the form 5471 is a real tax form; it's a reporting form for taxpayers who have an interest in foreign corporations which means that most taxpayers ...

Think of a Form 5471 like the signature on your return. Without it, it really isn’t a return. Forms 5471 are not only required of U.S. shareholders in controlled foreign corporations.

In December, the IRS posted to its Web site guidance encouraging taxpayers to submit delinquent Forms 5471, Information Return of U.S. Persons With Respect to Certain Foreign Corporations, before Jan.

Because of these interests, the taxpayer was required to file timely and complete IRS Forms 5471, Information Return of U.S. Persons with Respect to Certain Foreign Corporations, for his 2003 ...

The filing obligations for Form 5471, Information Return of US Persons with Respect to Certain Foreign Corporations, took on a more expansive reach following the repeal of Section 958(b)(4).

Form 5471 is designed to implement the foreign reporting requirements under Code Secs. 6038 and 6038A, in Chapter 61 of the IRC. Code Sec. 6201 does authorize assessment authority; however, the court ...

Form 5471 is a long and complex form that includes numerous schedules, and in many cases it can trigger income tax on the individual tax return. If you do have to file Form 5471, ...

Please pay attention, that IRS [Section 6038(b)(1)] rates a monetary penalty to the amount of $10,000 for each [Form 5471] that is filed after the deadline of the income tax return, or does not ...

“However, section 6038 imposes a $10,000 penalty for failure to furnish the required information on a Form 5471 submitted with a timely filed tax return.” In a letter last week to the IRS, the AICPA ...

In addition to sourcing, the new schedules will provide detailed information to better facilitate the preparation of Form 5471 (Controlled Foreign Corporations), Form 8621 (Passive Foreign ...