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Filing Form 5471 (Information Return of US Persons With Respect to Certain Foreign Corporations) is …
Failing to file Form 5471 triggers an automatic $10,000 penalty per foreign corporation, per year, r…
US taxpayers who hold shares in a Passive Foreign Investment Company (PFIC) often face complex tax r…
IRS Form 5471 has 13 schedules (A through R) covering ownership, financials, income, taxes, E&P,…
If you hold investments in foreign mutual funds, ETFs, or certain foreign holding companies, you hav…
The freedom to work from anywhere in the world is one of the biggest perks of being a digital nomad….
In 2025, Universal Tax Professionals (UTP) solidified its position as the leading choice for US expa…
Filing US taxes as an expatriate can feel overwhelming. Even while living abroad, US citizens are re…
Americans living abroad can pay US taxes online using IRS Direct Pay (free, requires a US bank accou…