Discussion:Due from foreign parent corp
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| Revision as of 16:46, 15 May 2009 TLT (Talk | contribs) (New Discussion) ← Previous diff |
Revision as of 15:46, 16 May 2009 Bjeter (Talk | contribs) (You are correct.) Next diff → |
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| {{ForumNewPost|UserID=TLT|Date=15 May 2009|Text=This is the first year preparing. It is a domestic corp owned 100% by foreign corp. Due from on b/s, but prior CPA was not reporting this on 5472. Seems to me that it should be.}} | {{ForumNewPost|UserID=TLT|Date=15 May 2009|Text=This is the first year preparing. It is a domestic corp owned 100% by foreign corp. Due from on b/s, but prior CPA was not reporting this on 5472. Seems to me that it should be.}} | ||
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| + | {{ForumReplyPost|UserID=Bjeter|Date=16 May 2009|Text=You are correct. Also, be sure that any interest payments are reported on the 1042/1042-S and withholding is done based on the appropriate treaty rate. On the 5472 you have to include all amounts loaned or borrowed from the parent corp.}} | ||
Revision as of 15:46, 16 May 2009
Discussion Forum Index --> Advanced Tax Questions --> Due from foreign parent corp
Discussion Forum Index --> Tax Questions --> Due from foreign parent corp
| 15 May 2009 | |
| This is the first year preparing. It is a domestic corp owned 100% by foreign corp. Due from on b/s, but prior CPA was not reporting this on 5472. Seems to me that it should be. | |
| 16 May 2009 | |
| You are correct. Also, be sure that any interest payments are reported on the 1042/1042-S and withholding is done based on the appropriate treaty rate. On the 5472 you have to include all amounts loaned or borrowed from the parent corp. | |
