5471 ACCOUNTANT IN SPECIALIZING IN SPANISH-SPEAKING LATAM.
Operating a foreign corporation as a U.S. taxpayer involves complex tax rules, strict IRS reporting requirements, and potential tax-saving opportunities. Whether you own a foreign business, are involved in offshore operations, or need to comply with Controlled
Foreign Corporation (CFC) regulations, understanding your tax obligations is essential to avoid IRS penalties and optimize your business structure.
Additionally, taxpayers with unreported foreign income or assets may qualify for IRS amnesty programs, such as the Streamlined Foreign Offshore Procedures, to correct past non-compliance while minimizing penalties.
Who Needs This Service?
Key Areas of Expertise
Foreign Corporation Tax Compliance & Reporting
Form 5471 & Controlled Foreign Corporation (CFC) Rules – Compliance with IRS reporting for foreign businesses.
Tax implications of foreign business ownership – Understanding Subpart F income, GILTI tax, and repatriation rules Foreign tax credits & deductions – Strategies to avoid double taxation on foreign corporate incomeIRS Streamlined Foreign Offshore Procedures
Who qualifies for IRS tax amnesty? – Understanding eligibility for non-willful non-compliance relief
FBAR & FATCA late filings – How to correct past-due reports for foreign bank accounts Minimizing IRS penalties – Strategies to reduce tax liabilities and avoid auditsOptimizing International Tax Strategy
Entity selection for foreign business formation – Choosing between an LLC, C-Corp, or offshore corporation.
Foreign dividends, distributions & tax treaty benefits – Maximizing tax efficiency for cross-border income IRS voluntary disclosures – Correcting past foreign tax errors while maintaining compliance
IRS Penalties for Non-Compliance
Failure to comply with foreign corporation tax laws or report offshore income can result in severe penalties:
→ $10,000 per year per entity.
Working with an experienced international tax professional can help prevent costly errors and penalties.
Our Solution
Operating a foreign corporation as a U.S. taxpayer requires navigating complex tax regulations and staying compliant with IRS requirements. Our comprehensive services help you file essential forms like Form 5471, Form 926, and FBAR, while managing CFC reporting and addressing past non-compliance through IRS amnesty programs. Whether you’re forming a foreign business or addressing unreported foreign income, we guide you through every step to ensure accurate reporting and reduce risks of audits and penalties.
Hybrid Firm
Service Description
Our Foreign Corporation Tax Services assist U.S. taxpayers with foreign business ownership and offshore investments in meeting IRS reporting requirements. We specialize in Controlled Foreign Corporation (CFC) compliance, Form 5471 filing, and IRS amnesty programs like the Streamlined Foreign Offshore Procedures. Whether you're dealing with Subpart F income, GILTI tax, or foreign dividends, our team helps you minimize tax liability and avoid costly penalties. We also provide guidance on optimizing your international tax strategy through entity selection and proper reporting of foreign financial assets (FBAR & FATCA).
Book a Virtual or In-Person Consultation
What To Expect?
This session is designed to address one foreign corporation taxation or IRS amnesty program issue. During the consultation, we will:
