IRS Form 5472 – Who must file it?

Foreign-owned US disregarded entities (which most commonly would include US LLC’s) now have an annual obligation to file Form 5472. The disregarded entity is required to file as if it were a standalone US Corporation, completing a pro-forma Form 1120 (assuming the...

Working Abroad Can Yield Tax-Free Income

Article Highlights: Tax-Free Income from Working Abroad Foreign Earned Income & Housing Exclusions Foreign Self-Employment Income Claiming or Revoking the Exclusion U.S. citizens and resident aliens are taxed on their worldwide income, whether the person lives...