Here are the most relevant ones:
• FinCEN BOI: Beneficial Ownership Information report for the LLC. It is essential to keep your LLC compliant with federal regulations.
• Form 1065: If your company is a partnership, this form is essential to report income.
• Form 1040NR: For non-resident foreigners who earned income in the U.S.
• Form 5472: Mandatory for single-member foreign-owned LLCs to report transactions with related parties.
• Form W-8BEN: Certifies your non-resident status and allows reducing withholding taxes under international treaties.

Practical Example: The W-8BEN Form.

Imagine you are a freelancer in Argentina providing services to a U.S. LLC. The company requests the W-8BEN form to certify that you are not a U.S. resident. Why is this important? Because if you don’t submit it, the U.S. company could withhold up to 30% of your income as taxes.

With the W-8BEN, you declare that you do not reside in the U.S. and can benefit from tax treaties that reduce this withholding, improving your cash flow and avoiding issues with the IRS.

Key Dates for Tax Season.

Failure to comply with these dates can result in significant penalties. Here are the deadlines you must keep in mind:
• January 31: Deadline to submit Form 1099-NEC if you paid contractors.
• March 15: Due date for partnership returns (Form 1065) and S Corporations (Form 1120S).
• April 15: Deadline for individual returns (Form 1040) and C Corporations (Form 1120).

If you need more time, you can request an extension until October 15, but keep in mind that any balance owed must be paid by April 15 to avoid fines and interest.

At FINANCERS, we take care of everything so you can focus on what matters most: your business. Don’t let forms and regulations keep you awake at night. Contact us for a free consultation and get all your questions answered by our expert team.