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Did You Know?
Form 5471 is Information Return of U.S. Persons With Respect to Certain Foreign Corporations
Report information with respect to certain foreign corporations. A domestic partnership may have to file Form 5471 if it: Controls a foreign corporation; or Acquires, disposes of, or owns 5% or more in value of the outstanding stock of a foreign corporation; or Owns stock in a corporation that is a controlled foreign corporation for an uninterrupted period of 30 days or more during any tax year of the foreign corporation, and it owned that stock on the last day of that year.
Newsroom
News about Taxation cases in Indiana and nationwide:
2004 Tax Law Changes Education IncentivesThe maximum Tuition and Fees Deduction is $4,000 for those with Adjusted Gross Income (AGI) up to $65,000... Read more >
Definition:
To be eligible for an installment agreement, all returns that are due must first be filed. Installment agreements generally require equal monthly payments. The amount of an installment payment will be based on the amount owed and on the taxpayer’s ability to pay that amount within the time legally available for the IRS to collect.
Acquisition
Definition:
The purchase of one corporation by another, through either the purchase of its shares, or the purchase of its assets.
Dependency exemption
Definition:
Amount that taxpayers can claim for their eligible dependents. Each exemption reduces the income subject to tax. The exemption amount is a set amount that changes from year to year.
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Fort Wayne
Franklin
Goshen
Granger
Greenfield
Greenwood
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Huntington
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Kokomo
La Porte
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Logansport
Marion
Martinsville
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New Castle
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Noblesville
Peru
Plainfield
Portage
Richmond
Seymour
Shelbyville
South Bend
Terre Haute
Valparaiso
Vincennes
West Lafayette
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