Tax Forms
The most frequently asked tax questions related to Tax Forms
IRS FORMS
Asked Monday, March 09, 2026 by selma nurhello, i opened an llc in new mexico almost a year ago. i havent made a sale yet but apperantly i still have to file some reports to IRS. Can you help with that?
Quick Answer:
Form 5472 filing requirements for foreign-owned DAO LLC
Asked Wednesday, March 04, 2026 by AlejandroI own a DAO LLC registered in the United States that is foreign-owned and treated as a disregarded entity. The company operates mainly with cryptocurrency and blockchain activities. I would like to know if I must file Form 5472 together with a pro forma Form 1120, what transactions must be reported, and if crypto transfers between the owner and the LLC are considered reportable transactions.
Quick Answer:
Dormand 2025 foreign-owned LLC: File Forms 5472 and 1120
Asked Thursday, February 26, 2026 by Ángel D.Question regarding Form 5472 and pro-forma Form 1120 filing requirement? Y o N? I have a foreign-owned single-member LLC formed in Wyoming in 2025. The entity obtained an EIN but has remained completely dormant: No bank account was opened, No income was generated, No U.S. expenses were paid, No capital contribution was formally made The only costs related to formation (state filing, registered agent, EIN service) were paid directly by the foreign owner from a personal bank account outside UUEE.
Quick Answer:
Household Employee W2 Filing - Multi-State Question
Asked Monday, February 23, 2026 by CodyI am a household employer for a nanny. I am trying to file my employee's w2 for 2025. I have a FEIN, but I lived in 3 states in 2025 where I paid my nanny. I only have a state ID number for 1 state. I paid state UI taxes in all the states for the portion of the year my nanny worked in those states. I did not withhold federal taxes for my employee and am reporting it on my schedule H. What should I put in Box 15 for the states where I do not have a state ID number for my employees w2?
Quick Answer:
F1+ TPS
Asked Thursday, February 05, 2026 by GabrielaHello, I need clarification on my tax residency status. I entered the U.S. on an F-1 visa in 2021 and have maintained my F-1 status. I was granted TPS and have had TPS from January 2024 through May 2025, and I worked under TPS during this time. I’ve spoken with two TurboTax professionals and got conflicting advice: One said I am a resident for tax purposes because TPS days count toward the Substantial Presence Test. Another said I am not a resident because I maintained F-1 status.
Quick Answer:
Late Filing of Form 2553 and Payroll Tax Return Concerns
Asked Friday, September 12, 2025 by WendyI’m in the process of filing a late Form 2553, and as you know, the effective date must be retroactive to the beginning of the year. My main concern is how to handle the payroll tax returns, specifically Forms 941 and RT-6, since no wages have been paid and all returns would reflect zero liability. My question is: how would you recommend handling the 941s and RT-6 filings in this case to avoid penalties for the quarters that were missed, considering there was no payroll activity?
Quick Answer:
Gift tax on donor and receiver
Asked Friday, August 29, 2025 by TianxueIf a donor writes me a $900,000 check and I deposit it into my personal bank account, do neither of us need to pay taxes? Does only the donor need to file a Form 709 with the IRS because the amount is below the $13.99 million lifetime exemption, so it won’t trigger any tax for the donor? Also, since this money is not considered income for the recipient, does that mean the receiver doesn’t need to report or pay taxes on it? Additionally, for a gift of this nature, is it better to have written doc
Quick Answer:
Non-resident Tax
Asked Tuesday, August 19, 2025 by KoyoI am a non-resident LLC owner with my agency residing in Wyoming. I would like to hire CPA for the following documents: Form 5472, Pro Forma Form 1120, and W-8BEN-E (to file for U.S.–Japan tax treaty). I would like to know how much hiring one would cost; does it depend on the person? Since I am non-resident, I am wondering how I can best find the person. Thank you very much for your support and looking forward to hearing back. Best, Koyo Asakawa
Quick Answer:
Capital gains 1041
Asked Friday, May 31, 2024 by RichardAre capital gains due for a house sold during administration of an estate. If so how are they calculated based on date of death appraisal, selling price, abd expenses
CPA Answer:
If the decedent owned 200% of the house before the date of death, then the basis of the house will be stepped up to fair market value on the date of death. If the house was sold within a couple of months of the death, then that value can generally be used as the step up value even without the alternative valuation date. In other words, the basis is the selling price of the house. If the house was used for personal purposes, then there will be a capital loss due to the expenses of the sale, but it will be disallowed under 26 U.S. Code § 165 (c).
Hans Nelson