Hi！What should I do if I filed 1040 instead of 1040-NR??? I made a mistake and IRS already received the 1040 form. I'm a NR now. Any advice and suggestions would be helpful!! Thanks
do you live in another country and used the llc to a service or something like that? I ask you because i didn't know about this other form i thought that i only have to presente form 5472 and 1120. in any other video talked about that a foreign us DE have to present this form
Great video! I have a question, I registered a llc and have ein number, but there was no activity, I haven’t even opened a bank account yet, the question is what form do I need to fill out, I’m not a resident of the United States! Thank you!
1040NR llc texas .If its our first time and we have generated 0$ income then what shoud we do wile filing tex ssame process or different and also we have invested 0$ without llc expenses
Good question! U.S. citizens that live abroad are still U.S. tax residents for federal tax purposes, so they need to file Form 1040 - they do not file Form 1040-NR. A US citizen abroad files their Form 1040 and normally includes Form 1116 for foreign tax credits as well as a Form 2555 for the foreign earned income exclusion.
Hello. Is it true, if multimember LLC owners who are non-residents have to pay at highest tax rate and then ask refund from IRS? LLC imports and sells goods in the US through Amazon. So it's an Effectively Connected Income. Owners have to file 1040-NR. But what about tax calculations? I didn't find in instruction that owners have to pay at highest tax rate. What are your thoughts on this matter?
@Jason, what is I'm the foreign owner of LLC and haven't made ANY trade or business in U.S? Actually the LLC is used only to own shares in other company (European) and there is no income, dividends etc. Do I have to file 1040-NR or only 5472?
Your videos are very informative and detailed. Thank you! However, there's a common confusion that needs clarification. If we're based outside the USA but do business on Amazon, is this considered US source income? Do we need to file Form 1040-NR? Or would Forms 1120 and 5472 be sufficient, considering we have both income and expenses? Many thanks in advance for your guidance!
How come you are referring to fill-up 1120 & 5472 for a disregarded entity. Just for your information those are the forms for INC/ C-Corp. Those are the forms for corporation but not for disregarded entity.
Studying for EA, great channel
Glad it was helpful. Thanks for the support!
Hi！What should I do if I filed 1040 instead of 1040-NR??? I made a mistake and IRS already received the 1040 form. I'm a NR now. Any advice and suggestions would be helpful!! Thanks
If a nonresident incorrectly filed a Form 1040 instead of Form 1040-NR, they can file an amended tax return (Form 1040-X) to correct the mistake.
Thanks! So I can only mail the 1040-X to the IRS right? No e-filing@@JasonDKnott
do you live in another country and used the llc to a service or something like that? I ask you because i didn't know about this other form i thought that i only have to presente form 5472 and 1120. in any other video talked about that a foreign us DE have to present this form
Hi.
Nice video!
I would like to ask whether if possible to file online?
Thanks
Great video! I have a question, I registered a llc and have ein number, but there was no activity, I haven’t even opened a bank account yet, the question is what form do I need to fill out, I’m not a resident of the United States! Thank you!
Same question
I am Canadian, only have 1042s need to be filed. Not sure how. Please kindly reply. Thanks for a million
What if the Schedule C shows a profit? Does the non resident need to pay Self Employment tax? Thanks
Thanks. Can you kindly makea video when we have just setup a LLC and not done any business yet, then how do we file the levant filings with US IRS?
Great video overview!
Hi incase a Pvt Ltd company incorporated and operates outside USA buys tbills via Treasury direct then do they not need to file any docs?
1040NR llc texas .If its our first time and we have generated 0$ income then what shoud we do wile filing tex ssame process or different and also we have invested 0$ without llc expenses
Is this form also for us citizens living abroad?
Good question! U.S. citizens that live abroad are still U.S. tax residents for federal tax purposes, so they need to file Form 1040 - they do not file Form 1040-NR. A US citizen abroad files their Form 1040 and normally includes Form 1116 for foreign tax credits as well as a Form 2555 for the foreign earned income exclusion.
Hello. Is it true, if multimember LLC owners who are non-residents have to pay at highest tax rate and then ask refund from IRS?
LLC imports and sells goods in the US through Amazon. So it's an Effectively Connected Income. Owners have to file 1040-NR. But what about tax calculations? I didn't find in instruction that owners have to pay at highest tax rate. What are your thoughts on this matter?
Do non-residents using w8-ben need to file with the IRS?
@Jason, what is I'm the foreign owner of LLC and haven't made ANY trade or business in U.S? Actually the LLC is used only to own shares in other company (European) and there is no income, dividends etc. Do I have to file 1040-NR or only 5472?
1040 NR can only be file if you have business activities in the united states
Your videos are very informative and detailed. Thank you! However, there's a common confusion that needs clarification. If we're based outside the USA but do business on Amazon, is this considered US source income? Do we need to file Form 1040-NR? Or would Forms 1120 and 5472 be sufficient, considering we have both income and expenses? Many thanks in advance for your guidance!
same question
Can you help me to get rid of 1099C permanently?
Can you please do video explains 1040-NR with just W2-income and have to file MI State taxes?
How come you are referring to fill-up 1120 & 5472 for a disregarded entity.
Just for your information those are the forms for INC/ C-Corp. Those are the forms for corporation but not for disregarded entity.
Which ones should you file for a DE?