The IRS has issued temporary and proposed regs that eliminate the duplicate filing requirement for Form 5472, Information Return of a 25% Foreign-Owned U.S. Corporation or a Foreign Corporation Engaged in a U.S. Trade or Business. The change is effective immediately and applies to filings for tax years ending on or after June 10, 2011.
Anthony Chen CPA PLLC
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We believe that the selection of an accounting firm is one of the most important business decisions an individual or business can make.
The firm you select should provide more than auditing services and tax planning. It should be your advisor - a partner you can turn to year round, whenever you are faced with a decision that will affect your financial future. Our mission is to be our clients’ Expert Partner, accomplishing this through creativity, innovation, insight, integrity and care. We are committed to connecting clients with
The IRS has issued proposed reliance regs governing the filing of claims for credits or refunds. The proposed regs are intended to perform a housekeeping function. Among other actions, the proposed regs clarify where and how to file credit or refund claims.
IRS has published the spring 2011 issue of the Statistics of Income (SOI) Bulletin which features information on high-income individual income tax returns filed for tax year 2008. According to the publication, taxpayers filed more than 4.3 million returns with adjusted gross income of $200,000 or more for tax year 2008. This represents 3% of all individual returns filed for 2008.
SOI Tax Stats - SOI Bulletin: Spring 2011 In the Next Issue The following articles are tentatively planned for inclusion in the summer 2011 issue of the Statistics of Income Bulletin, scheduled to be published in August 2011:
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