It is recommended that the U.S. tax returns for a U.S. LLC be handled by a tax specialist to avoid potential errors that could result in high penalties. US tax laws and accounting methods can be complex, which makes it important to have an expert handle these returns.
PrepaTax offers support for the management and life of your LLC, as well as to answer all questions related to your US entity.
What is the procedure for filing US tax returns for a US LLC?
Our specialists first verify the compliance of your US LLC with the requirements of the US state in which it was formed before determining its ETBUS or non-ETBUS status based on the information provided.
The U.S. tax returns for an LLC vary depending on the number of partners in the company.
For a single partner LLC, Forms 1120, 5472 and possibly 1040NR must be filed.
For a multiple partner LLC, Forms 1065, K-1, 8804, 8805 and 8813, and possibly 1040NR must be completed.
Completing these forms on your own can lead to many errors (or omissions), as it requires extensive technical knowledge and years of experience.
What is the procedure for filing French tax returns for a U.S. LLC (LLC USA)?
After completing the US tax returns for an LLC USA, the French tax resident partners must declare their income in France by correctly completing the appropriate tax forms. PrepaTax offers assistance in filing the income tax returns for your LLC USA, including the 2047, 2042 C and 2042 C PRO forms, as well as the 3916 form for reporting accounts held abroad.
The semi-transparent tax status of the US LLC is recognized in France thanks to the 1994 Franco-American tax treaty, which means that the LLC must declare a profit in the United States, but the partners are personally liable for the tax on the profits made by the company.
PrepaTax's specialists are available to answer any questions you may have regarding the tax returns and the management of your American LLC.
What are the advantages of entrusting the tax returns for a US LLC to a PrepaTax specialist?
Calling upon a PrepaTax specialist for your US LLC tax returns has several advantages. PrepaTax's specialized formalists are able to prevent any irregularity in LLC tax matters. They are fully trained and experienced in LLC taxes. Indeed, the IRS does not tolerate tax fraud, omission of declarations or delay in declaring your income for your American LLC.
Failure to comply with these rules can result in very costly penalties.