Form 5471 Substantial Compliance Penalties Failure to file information required by section 6038(a) (Form 5471 and Schedule M) Failing to timely and accurately file Form 5471 may result in civil and criminal penalties, a reduction to foreign tax credit and the...
Creating and maintaining a happy marriage is complicated. But, divorce is also complicated, and one thing that some do not think about is the tax implications of a divorce. These should be discussed as part of the divorce. General tax implications Of course, tax...
You and your spouse may have owned a successful business together, leaving you very well off. However, as is the case with many family-owned businesses in the Washington D.C. metro area, one spouse would be responsible for some tasks such as paying self-employment...