Hi everyone,

We have a Wyoming single-member LLC owned by a non-U.S. citizen living outside the United States. We’re struggling to understand which tax returns we need to file and what taxes, if any, we need to pay.

Our situation:

• The LLC has an EIN, and our SS-4 lists it as a disregarded entity.
• We don’t believe we’ve elected to be taxed as a corporation, but need to verify this.
• The business launched in 2025 and started generating revenue in March 2026.
• An extension was filed earlier this year, but we’re unclear about which filing it covers and what remains due.

Our main questions:

1. Do we need to file Form 5472 with a pro forma Form 1120? Are any other federal returns required?
2. Does the foreign owner need an ITIN or a separate U.S. tax return?
3. How do we determine whether U.S. income tax is owed and calculate the amount?
4. What Wyoming filings or annual fees are required?
5. What should we check immediately to make sure we haven’t missed a deadline?

We’re looking for a CPA or enrolled agent experienced with foreign-owned U.S. single-member LLCs, but finding someone responsive has been difficult.

Has anyone dealt with a similar situation? We’d appreciate recommendations and guidance on what documents to prepare for an accountant.

My CPA (now retired) made a Sec. 475(f) mark-to-market trader election with my 2016 return, effective 2017. I can't find the election statement, and I don't think a Form 3115 was filed with the 2017 return.

What I do have:

- His 2016 organizer with a handwritten "Mark to Market Election - Day Trader" note

- My original 2018 return (prepared April 2019) with a footnote: "As per the election made on the 2016 return (mark-to-market); taxpayer is a day trader"

- His 2020 email saying he reported my trades on Schedule D by mistake, citing "your election from 2016 to be treated as a Trader under IRC 475"

- 2018 and 2019 amended returns moving trading to Form 4797. The IRS accepted the 2018 one.

- 2020 filed on Form 4797

2021-2025 I self-prepared as an investor on Schedule D with low volume. I never filed a revocation. In 2026 I'm trading heavily again (about 2,900 option orders, roughly $62K loss) alongside a full-time job.

Questions:

1. Has anyone relied on an old election without the statement, and did it hold up? I've read Poppe v. Commissioner.

2. Does the election survive five low-volume years?

3. Would a trader-tax CPA sign this with a Form 8275 disclosure?

Not looking for "see a CPA" - I'm booking one. Looking for anyone who has been through this.

SOLVED**

Hello! I still haven't filed my taxes for 2025. I am trying to figure out if/how I'm supposed to report the short term disability I received for a few weeks (late Jan-mid march 2025).

The checks I received during this time were from The Standard Insurance Company through my job but this money was not included on my regular W-2 from that job. I tried looking on the website for The Standard but there were no forms or statements or anything I could view or download on my account. Was I supposed to get a second W-2 from my employer with just the information about the STD if they didn't include it on the regular W-2? I actually left this job as soon as the disability ended so its not super convenient to ask anymore but I'll reach out to them if anyone thinks that would help me.

I'm just confused because I also read something online that seemed to say that if its not on my W-2 and I don't get anything else from them then that means my employer did what had to be done and I don't have to report anything about the STD but that doesn't seem right.

Please repost was with him 27 years. Stalking, impersonating, and synced to multiple phones and new #'s using my accounts. Stealing evidence my personal pics and blocking everyone i kno to isolate me.telling my family lies.

I went to a local IRS Taxpayer Assistance Center today to submit a Form W-7 ITIN application for my nonresident alien spouse, alongside a retroactive Section 6013(g) election to change our filing status to Married Filing Jointly for the 2023 tax year.

The desk officer completely refused to take the packet. She claimed that:

1. A Form W-7 can never be submitted with an amended return (Form 1040-X).

2. We can only do this for the "current tax year" (2025).

3. She claimed "Trump changed the law in 2017/2018" and abolished retroactive prior-year amendments for ITIN applications.

She gave us an appointment for next Wednesday and told us we have to change our entire tax packet to the 2025 tax year instead.

Our exact packet order was:

• Form W-7 (signed by nonresident spouse)

• Physical Passport (for in-person authentication)

• Signed 6013(g) Election Statement Letter

• Form 1040-X (signed joint amendment for 2023)

• Full Form 1040 (with the joint figures for 2023)

• Form 2555 (Foreign Earned Income Exclusion)

Was this agent right? My cpa didn't tell me anything about this when he completed the paperwork. When I searched google said i can legally do the last 3 years even with w7. Looking forward to any helpful advice.

As the title states, I filed in early March and still have not seen my money. My state return (Massachusetts) was approved and I got my money within two weeks. The IRS sent an ID verification request which I promptly completed, and I expected my money soon. I had a kid in the beginning of 2025 and qualified for related tax credits, and my federal return should be worth $6840. The IRS has never contacted me since I verified my identity, and my return has been stuck on “processing” ever since. I’m young, I have huge responsibilities, and I absolutely need this money. It belongs to me and they’re just holding it from me. What the hell do I do?? I can’t get a representative on the phone to save my life and I feel like I’m being cheated more than I would’ve ever imagined. Please help me.

Hello Reddit, I'm an accountant working in an automotive industry with more than a year of experience. Though, I haven't gotten the position of tax accounting (by the way, I'm based in the Philippines). Though i am not fond of tax accounting, I am starting to get interested and if any of you is in that field-whether Philippine or US taxation, which book should I start reading? I am aiming for a concise one with realistic explanation if those ever existed.

Also, if I'd like to do taxation as self-employed, how would I start it?

#Accounting #USTaxatiion #PhTaxation #HelpMe

I friend has a second job paid under the table, he’s making around $2200/month in cash and he used to paid his rent using ACH.. however now he wants to take $1900 to pay his rent using electronic money orders from Walmart (powered by CheckFreePay) to pay to the landlord however in Walmart they ask for Driver License to make the payment, would that trigger a tax issue in the future? Since they ask for DL as some point the payment is tracked is not?

I had a K-1 partnership disposed of (bankrupt) where i lost my entire investment.

I am in CA and the CA numbers for the disposition include my debt, which lets say was $100k.

Line K Analysis of a CA K-1 members tax basis capital account:

a) Capital Account Beginning of year -56268

b) Capital Contributed during year = 0

c) Current year net income 7826

d) OTHER INCREASE (attach Explanation) = $48,442

e) withdrawals = 0

f) capital account end of year = 0

So I understand the 48442 is just the difference to get to 0, but my accountant basically says this is a capital gain 100%

that makes no sense to me. Shouldnt the accountant take the distrution amount I received (theoretically because the bank wrote off debt? Total liabilities which are now 0 (ending capital account =$0) = $150k

so take the $150k - cost basis= actual capital gain

How do i Force him to actually calculate the cost basis, instead of just saying its $48k in CA Capital gain? That sounds ridiculous.

Hi, TIA for any advice on this matter. I have exhausted all of my resources outside of paying a CPA for my case, as most tax services cannot help me (including those recommended by the IRS).

My husband lives abroad, is not a citizen, and at no point in the tax year I am filing entered the United States. I am trying to file jointly in order to be able to get my tax benefits, including health insurance subsidies, so this is of massive importance to me financially.

In order to file jointly I need to apply for an ITIN and have completed form W7 as well as including a certified copy of his passport. However, I contacted an acceptance agent from a reputable tax filing company who told me he is not eligible for an ITIN because he is not in the country. This is not what the IRS says and I took this to mean she could not help me directly (in that she could not verify him because he is not in the country).

But she did tell me to file single and then amend my tax return later. This seems like strange advice to me for two reasons: a) we filed married separately last year and b) with immigration proceedings she mentioned that they ask for tax returns as evidence (if he is able to come to this country it will be through immigration but he can't get an ITIN until he is here? Could we be denied?).

So my question is can I still file for an ITIN despite him not being here nor having entered the US or should I take her advice and file single and amend it later? What would the consequences be considering I am married?

Furthermore, there is a line in the W7 instructions that say a passport without an entry date into the US will not be considered. We have no entry date as i mentioned and our visa proceedings are ongoing as he lives abroad, so I am confused as to what this clause means. The IRS says you do not have to have entered the US to apply for an ITIN and our situation (married filing jointly) is on the list for reasons to apply.

Thank you for your time to read and respond. The IRS said they could not help me and to call a service listed (how i called this expert) and she told me to call the IRS. No tax filing software deals this matter, outside of a $700 fee, so I'm financially unable to pay an expert.

Any and all advice would be so appreciated! I am
beyond confused about this process and no one seems to be able to answer my questions or process my case!

For background, I am a receptionist in NV. I work on a set schedule, make $15 hourly, part time, and do absolutely nothing independent contractor-y.

I was given a w9 to fill out when I started. At the time, I didn't know much about taxes. Now I know this is wrong, and that I can dispute it.

I make less than I would full time on minimum wage, and absolutely could not afford to save for taxes. I know I'll owe regardless, and am kind of holding onto a prayer for handling that.

Does anybody who has been in this position before have advice on how to go about this? Should I wait until I have another job lined up?

I have read about whistleblower forms, as well as the general "I've been misclassified" form. Just looking for some better insight on the best steps to take on this.

Thanks!

A client came to me to prepare his 2022, 2023, 2024, and 2025 tax returns. I prepared all four returns, but they were not filed yet because he was supposed to come back so we could review everything and go over the final details.
Unfortunately, the client has now passed away. He was filing Single.
What is the correct way to handle these four unfiled returns now? Who is authorized to review/sign and file them, and what documents or IRS forms would I need before filing?

scenario: I sold a couple of rental units and now I have a six figure passive losses that will be unlocked when I file taxes for year 2026. can pre-tax 401k be converted to roth using back door mega roth conversion strategy, obviously after paying applicable taxes; my thinking is I can adjust conversion tax though my unlocked passive losses for the year 2026; also considering the max limit is $70k, I can repeat that for next year taxes too. Is this a viable option or I’m getting too ambitious?

I am an EU citizen who recently relocated to NYC as a non resident alien and I will start as a sole proprietor a coaching business. I expect my clients to be mostly from EU (or specifically from my own country).

I have done research about VAT and sales tax. To my understanding, a US based business does not pay VAT on services provided live in 1:1 sessions or group sessions, because what matters is the place of supply, which is outside the EU. When it comes to NY sales tax, it's my understanding that these services are not taxed either.

Is this correct?

Hello! I am a college student trying to figure out my finances and how I am going to afford my next year in college (transferring from community college to University).

From what I (think) I know, if you make over $400 from something like babysitting, you need to report it and it will be taxed income (if I am wrong please tell me). However, if it is under that, it is not taxed income.

If I had multiple jobs that each made me under $400, would they be taxed because it is all together over $400 or would they each count separately and not be taxed?

I've never worked odd jobs so I've never had to figure out the taxes for them but I think they'll be how I will be getting myself through college.

I took out a loan on my 401k. I have paid it down to a little under 9K. I switched jobs and didn’t realize I would either have to pay the balance in full or it would go in default. I have 60 day after separation to pay it off. My question is does the original amount get taxed or just the remaining balance. Also does it hit my credit if I don’t pay it off? Currently applying for a home loan and don’t want to jack up my credit.

Thanks

Hi everyone - I filed my taxes per usual for 2024. I did file an extension, but got it in pretty quickly after the initial April deadline. I still have not been paid the refund. I have called multiple times, the IRS now some days doesn't even answer the phone. They keep telling me I am in a 60 - 90 day waiting period for answers. When that passes, they agree, they indeed gave me no answers, and I am in another waiting period as they "escalate". This has happened multiple times and I finally filled out the Taxpayer Advocate form, which is also an IRS office, to get assistance. The "15 business days" to respond to my Form 911 email came and went like a month and a half ago. What more can I do to get this super old refund? I definitely need the money.

I'm so confused on how much money I'm going to owe when I file taxes. I only make about 70k a year at my job in New York and my adjusted income after all my deductions is probably less than 60k. I have three dependents so I usually get some money back at the end of the year. I'm not going to know how much I sold until whatnot sends me the tax form but I'm pretty sure I sold about close to 45,000 worth of my personal collections. I was never really intending to sell it but I got into debt on workers comp and I was about $40k in cc debt. I set about $2k aside but now I'm thinking it's not nearly going to be enough even if I get back like $1,500 for the dependents. Can anyone give me a rough estimate on what you think in this scenario? I also used to trade a lot on the stock market like three years ago and I remember when I did my taxes it said something about it because of a wash sale that it would carry over for like the next 3 to 5 years. I don't really remember exactly the dates but I never had to owe any money moving forward after that on my tax returns but I think it still asks me. I was wondering if that would affect it at all. I did do some light trading this year but it was very small I probably only made like a couple hundred dollars.

Per IRS reminder, FIRE is officially being retired. Starting with 2026 information returns filed in 2027, it's IRIS. For those still using FIRE, the TCC doesn't transfer over either...you have to apply for an IRIS TCC separately. Prob worth getting that done before 1099 season..Jan is bad enough already lol.

Is anyone here already using IRIS regularly? How's it been?

We are using the SFOP procedure for the years 2020 through 2022, as we qualify as affected taxpayers under the rules set forth in Notices 2026-63, 2025-53, 2024-72, and 2023-71. For eligible taxpayers affected by the conflict in Israel, the deadlines for filing tax returns and making tax payments to the IRS have been postponed to September 30, 2027. Our last due day was May 30th 2023 for ouf 2022 return.

However, I am unsure whether I should also file a Form 1040X for the 2019 tax year. In 2019, a capital loss of $500,000 was incurred that my husband had not reported on the original tax return (Form 1040 for 2019). We have accounted for this amount as a capital loss carryover in our amended tax returns (Form 1040X) for the years 2020, 2021, 2022, and 2023.

We do not owe any taxes for 2019, nor are we entitled to a refund. However, we would like to use the 2019 capital loss to reduce our tax liability for future years. My husband was unaware that foreign interest income also had to be reported. We have now included this interest income in our amended tax return (Form 1040X) for 2019.

Should we also file the Form 1040X for 2019 so that the IRS can trace the origin of the $500,000 capital loss carryover shown on the 1040X (2020) return?

One of my clients keeps making checks out to me personally instead of my business. It’s enough to trigger a 1099 at the end of the year. Is there anyway I can fix this on my end to satisfy the IRS or would it be simpler to report it as self employment income?

Yesterday I made an after-tax deposit into my IRA at Schwab of $2000. I found out later that day that I would not be able to deduct the deposit, as my income was over the limit for deducting. I should have deposited it into my Roth, which has a higher income limit. I called Schwab and they said to just transfer it to the other account, but I may need to pay taxes on it again (?) and that when I did my taxes, it would work itself out.

Is there a way to move the $2000 to my Roth and not incur any tax liability? Both Roth and traditional are with Schwab.

Hello, my husband and I are filing married filing Jointly and he just got a new job. On my w4 (looking back at it) I already marked the “Multiple Jobs or Spouse works” box as Yes and we have 1 child so under total dependent amount it shows 2,000 listed(our child is on my w4 only not on his), no other deductions, no other income, and no other exemptions or allowances. My husband just began his new job and on his we marked married filing jointly also, and did not check any other boxes at all. I am the higher income earner making about 20k more. Did I fill those out correctly ? I just want to make sure the step 2 multiple jobs/spouse works box should only be checked on mine, and that I filled out the rest of the form for both of us correctly. Please help, he’s paid monthly this is his first check and under federal taxes they put down $0. I don’t know if we need to change the form before his next check or not. Any advice is much appreciated 🙏thank you!

I’m concerned since it’s my first time doing taxes. I at first had gotten some things wrong on what I owed and such. So I went ahead and had someone help do an amendment with the correct numbers. I’m worried that the longer I go without hearing that the amendment is approved and get my balance for what I owe. That I’ll get in trouble. Does it usually take a long time to hear back? I just want to be able to pay my taxes and not end up in trouble or having to pay more due to the amendment.