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In order to avoid making mistakes, we advise you to entrust your US tax returns for a US LLC to a tax specialist. Indeed, the error or omission committed by an NAR on the American territory can be very expensive. The penalty amounts to $25,000, per year and per form, with the IRS.
U.S. tax law and accounting practices can be quite complex. Therefore, only a knowledgeable tax preparer and tax specialist can handle these returns.
With the intention of protecting your rights as well as possible, your tax specialist ExpertLLCUSA.com will be able to accompany you throughout the year in the management and the life of your LLC. Our collaborators are at your disposal in case of questions concerning your American entity.
When filing your U.S. tax returns for your LLC, the compliance of your U.S. LLC with the requirements of the U.S. state in which it was created will first be verified by our specialists. Then, our specialists will determine the ETBUS or non-ETBUS status of your company, thanks to the information you will have provided.
The U.S. tax returns for your LLC vary depending on the number of partners in the corporation.
A single partner LLC will have to complete forms 1120, 5472, and potentially 1040NR. A multiple partner LLC will have to complete forms 1065, K-1, 8804, 8805 and 8813, and potentially 1040NR.
Completing these forms on your own will most likely lead you to make multiple mistakes. It takes years of experience to master the technicalities required to complete these U.S. tax forms for a U.S. LLC owned by partners, most of whom are non-US.
After the completion of your U.S. tax returns for your LLC USA, the French tax resident partners will have to report their income in France (in their country of residence).
To do this, our specialists offer to assist you in filing your income tax returns for your LLC USA correctly.
Partners of an LLC USA must complete the following forms:
- Form 2047 to report foreign source income;
- The 2042 C form and the 2042 C PRO ;
- Form 3916 to declare accounts held and opened abroad.
In order to be in compliance with your country of residence, it is imperative to be accompanied at the time of the tax returns of your LLC.
In France, the tax semi-transparency of the US LLC is recognized thanks to the 1994 Franco-American tax treaty in its article 7. This means that the LLC USA must report a profit in the USA, but it is the partners who are personally liable for the tax on the profits made by this entity.
If you have any questions, our formalists are at your disposal to help you with your tax returns and the management of your American LLC.
Our formalists are part of a preventive approach of your American tax obligations, within the framework of the tax returns of an American LLC. The perfect mastery of our specialists with regard to LLC taxes is the trademark of ExpertLLCUSA.com.
While the U.S. tax authorities may sometimes show leniency to a taxpayer acting in good faith, they certainly will not excuse willful fraud, failure to report, or late reporting of your LLC income. It is imperative for the taxpayer to be serious. That is why our staff is available to advise you on your current tax status and situation for your LLC USA.
