Report

IRS Form 5471: Information Return for U.S. Persons With Respect to Certain Foreign Corporations

 
Hypothetical: A new flag manufacturing client, Betsy Ross, meets you in your office at the start of busy season. Recently, Betsy inherited all the shares of a
Netherlands corporation ("DutchCo") from a Dutch Uncle. Betsy has had DutchCo distribute her flags, but is not sure whether any of those flags were sold outside the Netherlands. Betsy has wondered whether she has to report or pay tax on any of the income earned by DutchCo on her U.S. income tax return. What must Betsy Ross file with respect to her ownership of DutchCo?

Agenda

Faculty

Adam R. Konrad

Adam R. Konrad

Reinhart Boerner Van Deuren S.C.

  • Member of the Business, International and Tax Departments of Reinhart Boerner Van Deuren s.c.
  • Assists clients in a wide range of industries with international tax and business matters such as mergers and acquisitions, transfer pricing and export benefits
  • Admitted to the bar in Illinois and Wisconsin
  • LL.M and J.D. degrees in international and comparative law, Cornell Law School
  • Can be contacted at 414-298-8737 or [email protected]

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