Let’s Talk about Form 5471 – Information Return of U.S. Persons With Respect To Certain Foreign Corporations

U.S. Tax Planning /

Back in 2014, Forbes magazine wrote an article about Form 5471 which described it as the scariest US Tax Form – https://htj.tax/2014/03/the-scariest-us-tax-form-ever/ The author makes 3 important points: Firstly, the IRS normally gets three years to audit. Secondly, if you mess up with offshore account reporting, the IRS gets six years to audit. Thirdly, is […]

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