Hi Jason. Thanks for your channel Can you add a tutorial for same situation 1120 DE Corp with 50% shareholder US person and 50% owned by Foreign Person. Thank you
A question regarding you your created scenario. Did Hans just wire $65,00 back to his bank account in Cayman Island as his salary. Did he need to pay payroll tax for the above mention $65,000 in the USA? I would assume the answer is no because Hans is not authorized to work in the USA.
Excellent explanation. Thanks. Do you know why partnerships are not included in this regulation? What is the IRS looking that is not in the Tax returns?
Aloha Jason! Why in your example did you not include the $50,000 Additional Paid in capital on the 5472 that was reported on the balance sheet Line 23? Does that not need to be reported on the 5472?
Hi Jason, question if you able to answer. If there are no monetary transaction for the year in part 4, but we want to disclose non-monetary info in part 6 only. Part 3 needs to be filled out then right? My software "yelling" at me that if part 3 is checked, part 4 must be filled out. Thank you for the video, better than some CPE classes
I need the clarification , what part will I include expat working year 2019 salary 90,000 and housing allowance 10,000? What section on form 2555 will enter the information? 2019 FEIE 105,900.
Hi Jason, I have questions related to submission of form, should i have to add only first page of 1120 and merge 5472 along ?? Or should i have to attach entire 1102 along woth 5472?? , i want to submit ot via fax. It will be very helpful for me, if you answer. Thanks
Hi Jason, Thank you sharing this video, It is much help for me and other taxpayers who are filling this form. I have 2 question regarding this form is firstly do we need to use full country name or just abbreviated name as per the form instruction in 4c,4d. And my second question is as a foreign citizen, can I enter my company EIN in 4c US identifying number or use FOREIGNUS. Thank for helping out.
Hi Jason, If an LLC with a single participant, a foreign individual, did not receive income in the reporting period, do I need to submit Form 5472 or any others?
If you are e-filing a Form 1120 for a domestic corporation using approved tax preparation software, most software providers will include the Form 5472 in the XML for e-filing, so you don't have to attach it as a PDF. If, however, you are using some service that won't prepare the Form 5472 for e-filing, then you would have to separately attach the form.
Hi, how a C Corp with non U.S. Source income and 100% foreign-owner need to report 1120, on this case pay taxes (21%) or it is only for information purposes adding form 5472 with reportable transactions? Do you have any course about this?
The company is considered engaged in a U.S. trade or business because it has employees based in Florida and Delaware. That's why it's required to pay US taxes. Maybe Jason Can confirm and advise what tax return this Corp is required to file in case no US employees.
Thanks for the amazing clarity. I searched for lot of videos… Nthg gave this much clarity… thanks for your patience and clarity
I'm glad it was helpful!
You're the best, Jason. I find a ton of value in watching your videos. Thank you for your great work!
Thanks!
Thank you for the support!
Thanks!
Thanks for the support!
hmm quite resourceful.. thanks for sharing these contents sir. I am going to watch all your videos sooner.
Hi Jason. Thanks for your channel
Can you add a tutorial for same situation 1120 DE Corp with 50% shareholder US person and 50% owned by Foreign Person. Thank you
Well explained and extremely helpful! Thank you so much!
A question regarding you your created scenario. Did Hans just wire $65,00 back to his bank account in Cayman Island as his salary. Did he need to pay payroll tax for the above mention $65,000 in the USA? I would assume the answer is no because Hans is not authorized to work in the USA.
Such a wonderful video. Great. I have one question.
Can we fax the forms? if yes, then Which is the fax number of IRS to send these forms??
Excellent explanation. Thanks. Do you know why partnerships are not included in this regulation? What is the IRS looking that is not in the Tax returns?
Thanks for this, now how do you submit these? Could you guide us on that too?
Please advise how to file this Form 5472 with Form 1120?
Thanks a lot. This form looks easy to handle now
that's very helpful, BUT i missed my filing deadline 18th April 2023. I have $500 in transation to show . Can you please advise
Aloha Jason! Why in your example did you not include the $50,000 Additional Paid in capital on the 5472 that was reported on the balance sheet Line 23? Does that not need to be reported on the 5472?
Hi Jason, question if you able to answer. If there are no monetary transaction for the year in part 4, but we want to disclose non-monetary info in part 6 only. Part 3 needs to be filled out then right? My software "yelling" at me that if part 3 is checked, part 4 must be filled out. Thank you for the video, better than some CPE classes
I need the clarification , what part will I include expat working year 2019 salary 90,000 and housing allowance 10,000? What section on form 2555 will enter the information? 2019 FEIE 105,900.
Hi Jason,
I have questions related to submission of form, should i have to add only first page of 1120 and merge 5472 along ?? Or should i have to attach entire 1102 along woth 5472?? , i want to submit ot via fax.
It will be very helpful for me, if you answer.
Thanks
Hi Jason,
Thank you sharing this video, It is much help for me and other taxpayers who are filling this form. I have 2 question regarding this form is firstly do we need to use full country name or just abbreviated name as per the form instruction in 4c,4d. And my second question is as a foreign citizen, can I enter my company EIN in 4c US identifying number or use FOREIGNUS. Thank for helping out.
What about a multiple member LLC with foreign ownership? DO they need to file a 5472?
Hi Jason,
If an LLC with a single participant, a foreign individual, did not receive income in the reporting period, do I need to submit Form 5472 or any others?
In this case the payment to the shareholder was via 1099 NEC?
YOU ARE AMAZING. THANKS FOR YOUR WORK AND SHARING ALL THE PROFESSIONAL KNOWLDGE WITH US. THANK YOU VERY MUCH
HI I am foreigner , I have a smllc, Do I need to do 5472 , my llc RECEIVED MONEY FROM tenant（ RENTS INCOME) , not from me?
Is your service for filling this form out for hire sir?
Do I e-file the Form 1120 and attached Form 5472 as a PDF attachment?
If you are e-filing a Form 1120 for a domestic corporation using approved tax preparation software, most software providers will include the Form 5472 in the XML for e-filing, so you don't have to attach it as a PDF. If, however, you are using some service that won't prepare the Form 5472 for e-filing, then you would have to separately attach the form.
@@JasonDKnott THANKS
Hi, how a C Corp with non U.S. Source income and 100% foreign-owner need to report 1120, on this case pay taxes (21%) or it is only for information purposes adding form 5472 with reportable transactions? Do you have any course about this?
The company is considered engaged in a U.S. trade or business because it has employees based in Florida and Delaware. That's why it's required to pay US taxes. Maybe Jason Can confirm and advise what tax return this Corp is required to file in case no US employees.