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•Denver Business Attorneys, Denver Tax Attorneys, IRS Matters & Disputes, Uncategorized

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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 […]

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 […]

Nonprofit Organizations: Overview of International Informational Tax Filing Obligations.

U.S. tax compliance obligations for U.S. nonprofit (NP) organizations are generally fairly straightforward. If the entity is organized as a trust and operates as a pension fund, there may be no formal U.S. tax filing obligation (outside of Form 5500 with the DOL), assuming there is no unrelated business income (UBI). NP organizations may need […]

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 […]

Common Contingencies to Close on an Asset Purchase Agreement or Stock Purchase Agreement

If you are considering purchasing, selling, or acquiring a business, whether it be through an asset purchase or stock purchase, the underlying agreement, and the obligations of the seller or the buyer to close on the transaction are likely to be contingent upon certain conditions. The timing of these contingencies to occur may be before, […]

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Representations and Warranties in Stock Purchase Agreements and Asset Purchase Agreements

So, assume you are a business owner who has worked hard to build a successful business, and now it is time to sell your business. Or think you are looking to buy and acquire a business with plans to expand and grow the business. Your attorney provides you with the stock or asset purchase agreement, […]

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

•Colorado Business Law, Colorado Tax Law, Denver Business Attorneys, Denver Tax Attorneys, IRS Matters & Disputes, McGuire Law Firm

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 […]

Assessment of FBAR Penalty to be determined by US Supreme Court

Assessment of FBAR Penalty to be Determined by the United States Supreme Court While there is no doubt that foreign or international tax obligations and reporting requirements are complex, recent cases and the US Supreme Court’s review of an FBAR ruling show that even US Federal Circuit Courts, the Internal Revenue Service and taxpayers […]

Benefits of Hiring A Tax Attorney in Denver

•Blog, Colorado Springs Tax Attorney, Colorado Tax Law, Denver Tax Attorneys

•Tax Attorney in Denver, Tax Season