Blog

Your blog category

October 13, 2026

Your Foreign Company Lost Money. Why Could You Still Owe U.S. Tax?

Your foreign company lost money before making a profit. Learn why you may still owe GILTI tax, how earlier losses are treated, and what to check before filing.
October 5, 2026

Form 5471 Category 3: A Simple Guide to Acquiring or Selling Foreign Company Stock

The IRS has made it easier for eligible taxpayers to avoid certain tax penalties. Instead of requesting First-Time Penalty Abatement, many taxpayers may now receive automatic penalty relief if they have a good compliance history. Here's what the new IRS rule means, who qualifies, and why you should always review an IRS notice before making a payment.
October 5, 2026

Form 5471 Category 2: A Simple Guide for U.S. Officers and Directors

The IRS has made it easier for eligible taxpayers to avoid certain tax penalties. Instead of requesting First-Time Penalty Abatement, many taxpayers may now receive automatic penalty relief if they have a good compliance history. Here's what the new IRS rule means, who qualifies, and why you should always review an IRS notice before making a payment.
October 5, 2026

Form 5471 Category 1: What Does It Mean?

The IRS has made it easier for eligible taxpayers to avoid certain tax penalties. Instead of requesting First-Time Penalty Abatement, many taxpayers may now receive automatic penalty relief if they have a good compliance history. Here's what the new IRS rule means, who qualifies, and why you should always review an IRS notice before making a payment.
September 7, 2026

The Form 5471 Tax Year Question Every U.S. Owner of an Indian Company Needs to Answer

The IRS has made it easier for eligible taxpayers to avoid certain tax penalties. Instead of requesting First-Time Penalty Abatement, many taxpayers may now receive automatic penalty relief if they have a good compliance history. Here's what the new IRS rule means, who qualifies, and why you should always review an IRS notice before making a payment.
September 1, 2026

Form 5471 Filing Requirements: Who Needs to File, Due Date, Documents & Penalties

The IRS has made it easier for eligible taxpayers to avoid certain tax penalties. Instead of requesting First-Time Penalty Abatement, many taxpayers may now receive automatic penalty relief if they have a good compliance history. Here's what the new IRS rule means, who qualifies, and why you should always review an IRS notice before making a payment.
August 11, 2026

A Beginner’s Guide to Controlled Foreign Corporations (CFCs)

The IRS has made it easier for eligible taxpayers to avoid certain tax penalties. Instead of requesting First-Time Penalty Abatement, many taxpayers may now receive automatic penalty relief if they have a good compliance history. Here's what the new IRS rule means, who qualifies, and why you should always review an IRS notice before making a payment.
July 22, 2026

100% Bonus Depreciation in 2026: Should Your Business Buy Equipment Now?

The IRS has made it easier for eligible taxpayers to avoid certain tax penalties. Instead of requesting First-Time Penalty Abatement, many taxpayers may now receive automatic penalty relief if they have a good compliance history. Here's what the new IRS rule means, who qualifies, and why you should always review an IRS notice before making a payment.
July 20, 2026

IRS Penalty Relief Is Becoming Automatic: Who May Qualify and What Taxpayers Should Know

The IRS has made it easier for eligible taxpayers to avoid certain tax penalties. Instead of requesting First-Time Penalty Abatement, many taxpayers may now receive automatic penalty relief if they have a good compliance history. Here's what the new IRS rule means, who qualifies, and why you should always review an IRS notice before making a payment.