Form 5471: Who Has To File?

U.S. Individual Income Tax Return form 1040 with colored pencils and paperclips on a green background, representing tax filing and assistance.

Form 5471, Information Return of U.S. Persons With Respect to Certain Foreign Corporations, must be filed by certain U.S. persons who have an interest in foreign corporations. The IRS has five different categories of filers, each with specific filing requirements,…

Is The Income Tax Really Legal?

Red toy car with American flag next to a USA sign, symbolizing patriotism and American culture.

Is The Income Tax Really Legal? Liberty Financial Solutions, LLC: We worry about the IRS so you don’t have to…   As we’ve just celebrated our great nation’s 249th birthday, and as we prepare to celebrate America at 250, it…

The Biggest Taxpayer Mistake

Red label reading "MISTAKE" on a white background, symbolizing common taxpayer errors in IRS interactions.

The Biggest Taxpayer Mistake Liberty Financial Solutions, LLC: We worry about the IRS so you don’t have to… What’s the biggest mistake that taxpayers make? Truth be told, it’s not even close. It should also be noted that this mistake…