LLCs changing from partnership tax treatment to corporation or vice-versa may encounter issues including gain recognition.

The US Internal Revenue Service (IRS) issued news release IR-2020-194 on August 28, approving the temporary use of digital signatures for certain IRS forms that must be filed with the IRS manually. Of ...

Maite joined the AS USA in 2021, bringing her experience as a research analyst investigating illegal logging to the team. Maite’s interest in politics propelled her to pursue a degree in international ...

The IRS on Thursday released Revenue Procedure 2009-41, giving eligible entities guidance on how to obtain relief when they make a late entity classification election. The relief is available for ...

A tax levy is a seizure of property by the Internal Revenue Service to satisfy an unpaid tax debt. The IRS can legally seize your single-member limited liability company property to satisfy taxes if ...

IMGCAP(1)]The IRS offers tremendous flexibility in how a foreign entity may be classified for U.S. income tax purposes. For example, by following certain procedures, a foreign entity can elect be to ...

A foreigner starting business in the U.S. usually hires attorneys for visas, leases and licenses. The tax advisor comes later, when returns loom. This tendency is unfortunate because entering the U.S.

Limited liability companies can be set up by individuals or companies. One reason that the LLC structure appeals to both ownership types is that the IRS allows the LLC to act as a pass-through for tax ...