Navigating the complexities of US tax laws, our US Foreign Reporting services are here to assist you in accurately reporting your foreign income and assets. Whether it’s income from foreign investments or assets like foreign bank accounts or real estate, we help identify what needs to be reported.
In addition, we have extensive experience preparing Form 5471, required for U.S. persons who are officers, directors, or shareholders of foreign corporations, and Form 5472, used to report transactions between U.S. entities and related foreign parties.
Our team takes care of the preparation and filing of necessary forms such as Form 8938 (FATCA), FinCEN 114 (FBAR), and Forms 5471 and 5472, ensuring accuracy and timeliness. We also provide guidance on the reporting thresholds, which can vary based on the type of taxpayer and the total value of foreign assets.
For those who may have missed reporting in the past, we offer assistance in becoming compliant through programs like the IRS’s Streamlined Filing Compliance Procedures, our aim is to make the process of reporting foreign income and assets as straightforward as possible, helping you meet your obligations under U.S. tax law while minimizing potential penalties. Trust us to guide you through the intricacies of US foreign reporting, providing expert guidance at every step.