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Foreign Bank Account Report (FBAR)

The Ultimate Guide to FBAR: Understanding and Filing the Foreign Bank Account Report (FinCEN Form 114)

Navigating the world of international finance can be a complex task, especially when understanding the requirements and compliance issues related to the Foreign Bank Account Report (FBAR), also known as FinCEN Form 114. This guide aims to comprehensively understand FBAR, its requirements, and how to ensure compliance. What is the FBAR? The U.S. government requires […]

Man standing in front of employees

Foreign Entity Ownership – U.S. Tax Reporting – Form 5471

What is form 5471: Form 5471 is an information reporting form the must be filed with a taxpayer tax return when they meet certain ownership amounts of foreign corporations. Broadly speaking, the form reports who owns the foreign corporation, the current year financial information of the foreign corporation, information related to subpart F and GILTI […]

Form 926 | McGuire Law FIrm

What U.S. taxpayers should know about Form 926.

What is Form 926? Form 926 is required to report transfers by U.S. persons to foreign corporations in an exchange described as a non-recognition transaction.  IRC Section 6038B gives rise to the reporting requirement for Form 926. The nonrecognition transactions that apply are: IRC Section 332 – Complete liquidation of corporate subsidiary, IRC Section 351 […]

Business Lawyers in Denver Colorado

Why Should I Hire A Business Attorney?

Business Lawyer in Denver Colorado | McGuire Law Firm Denver Business Lawyers You Can Trust If you’re looking for Denver business lawyers that you can rely on to look after your best interests, Mcguire Law Firm is here to help. Mcguire Law Firm has an experienced and trustworthy team of legal professionals dedicated to meeting […]

IRS Form 5471

Federally Tax-Exempt And/Or Nonprofit International Tax Series: Form 5471

Summary: Tax-exempt and/or nonprofit organizations may be required to file form 5471. There are several instances where form 5471 would be required. Often, detailed analysis and thorough understanding of the tax rules are required to determine if there is a filing obligation. Failing to file (including late filing) for form is subject to a $10,000 […]