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Tax Forms

Form 5472 filing requirements for foreign-owned DAO LLC

Asked Wednesday, March 04, 2026 by Alejandro

I 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.

Tax Filing Tips

S-Corp Owner, No Payroll, Need 1120-S Help

Asked Tuesday, March 03, 2026 by Zachary

I own a single-member S-corp. In 2024, I had one client, earned ~$37k via 1099, and did not run payroll — I transferred funds directly to my personal account. I know this raises an IRS "reasonable salary" issue. I need help assessing my exposure, whether corrective action is needed, and filing my 1120-S.

Nonresident Tax Issues

Which State Do We Pay

Asked Friday, February 27, 2026 by Shelley

I have a business in one state and 1 employee who lives and does their job in another state (works remotely for us). Do we pay the state withholding and state unemployment to the state where we are located for that employee or do we pay the state where the employee lives and performs their work?

Personal Taxes

HOH eligibility

Asked Friday, February 27, 2026 by Chengchou

I believe I qualify for Head of Household (HOH). Here is why I meet the criteria: Considered Unmarried: My spouse is a nonresident alien (NRA), and I am not choosing to treat her as a resident alien for tax purposes. According to the section "Nonresident alien spouse" in Publication 501, I am "considered unmarried" for HOH purposes. Qualifying Child: I have a daughter born in September 2025 abroad. Although she is an NRA and has never been to the U.S. (not met the dependent requirements,she has

Tax Forms

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.

Tax Forms

Household Employee W2 Filing - Multi-State Question

Asked Monday, February 23, 2026 by Cody

I 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?

Tax Filing Tips

Partnership return form 1065

Asked Friday, February 13, 2026 by WAYNE

In a family limited partnership in Texas, if one of the general partners died in January 2026, will the year 2025 partnership return form 1065 and k-1's be filed as usual, the death in 2026 not having any impact on the return for 2025?

Retirement

Tax obligation

Asked Thursday, February 05, 2026 by Josh

Someone wants to withdraw a chunk of his retirement from his union job. He wants to buy a piece of farm equipment and right it off. The farm is a family business I told him he needs to pay tax on his retirement no matter what he spends the money on. Does he need to pay taxes on funds withdrawn from his annuity.

Tax Forms

F1+ TPS

Asked Thursday, February 05, 2026 by Gabriela

Hello, 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.

Nonresident Tax Issues

5472 form

Asked Wednesday, February 04, 2026 by Alin

Hello, I require assistance with filing my 5472 form. I'm finding the form quite complex and would appreciate any guidance you can offer. Please tell me about the price and support you provide for completing this form. Thank you.