Form 5471 is an information return required to be filed by U.S. persons who are officers, directors or shareholders of certain foreign corporations. However, the Tax Court decision is potentially much ...

IRS Form 5471 must be filed with the taxpayer’s annual income tax return. The penalty for failing to timely file IRS Form 5471 is $10,000 for each year and for each foreign corporation.

Form 5471 is used to report an individual's control over a foreign corporation. For years, taxpayers and their advocates have stated that the IRS lacked authority to assess and collect these ...

The Edwards County, Illinois sheriff said this week that his office will not be arresting or housing any person who solely violates HB 5471, which places bans on assault rifles.

Exceptions To Filing Form 8858 If there are multiple filers of the same information, an exception exists. If a Category 4 or 5 filer of Form 5471 or Category 1 filer of Form 8865 exists, then only one ...

If you do have to file Form 5471, it is worth seeking assistance from an experienced expat tax professional. What does “with an interest” in a foreign corporation mean?

The procedures are designed to provide taxpayers in such situations with a “streamlined” process for filing amended or delinquent returns as well as terms for resolving their tax and penalty ...

Successfully merging a pull request may close this issue. [2.0] GH-5471: Fix form validation messages. SAP/spartacus 6 participants ...