Foreign Corporation Reporting \/ Transition Tax<\/span><\/h5>\n\n\n\nThrough FATCA (Foreign Account Tax Compliance Act) and other recent changes in reporting requirements under recently introduced Tax Form, Form 5471 (Information Return of U.S. Persons with Respect to Certain Foreign Corporations) is getting more attention these days, and we routinely help clients file the necessary forms to ensure compliance for their non-U.S. corporate holdings. In addition to Form 5471, we can also review your situation to determine potential tax obligations under Transition Tax rules (also called a \u201cToll Tax\u201d or \u201cRepatriation Tax\u201d). At this point we don\u2019t want to scare you by going into the potential penalties for non (or incorrect) filing of these forms, but trust us on this one \u2014 you will want to be sure these forms are filed correctly and any taxes owed paid, especially if you are filing for back years and looking to \u201cget back on the grid\u201d.<\/p>\n\n<\/div><\/div><\/div>\n\n
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