How to Use 5477nb

What do you need to know about the 5471 form?

Form 5471 is used as an information return of U.S. persons with respect to certain foreign corporations. In other words, it is a form that is used to describe ownership and business operations of a foreign corporation.

What kind of motor does the Makita 5477nb have?

The 5477NB has a powerful 15 AMP motor with ball bearing construction for increased productivity. Makita’s efficient hypoid gears have greater surface contact and deliver more constant power. The oil bath technology and sealed gear housing are engineered for less maintenance, with high quality heat treated hypoid gears for long lasting performance.

Do you need to prepare a Form 5471 for a dormant corporation?

PLEASE NOTE that there are no 'almost-dormant' corporations (just like one can not be almost pregnant). Failure to meet one condition would make it non-dormant and require preparation of a complete Form 5471. Preparation of Form 5471 is one of the most complicated and formidable challenges faced by tax preparers.

Is there a reasonable cause defense to Form 5471?

Reasonable cause is a total defense to Form 5471 penalties, and a Form 5471 tax lawyer is best equipped to gather the relevant facts to that determination, and then write the explanatory attachment arguing against Form 5471 penalties.


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