Acully Incorporated

10/28/2026

This guide explains how to dissolve an LLC or corporation before December 31, 2026, and the order in which to complete the state, IRS, and payroll steps. The order matters. An entity that stays on state records into 2027 can owe another full year of state tax. A missed final federal form can also trigger penalties after the business has stopped operating.

Why December 31 matters

Delaware shows how the calendar drives state cost. The Delaware Division of Corporations charges LLCs, limited partnerships, and general partnerships an annual tax of $400. The tax for each year is due by June 1 of the following year. Delaware assesses the tax if the entity is active on its records at any point during the calendar year, and it does not prorate the amount.

A Delaware LLC still on the records on January 1, 2027, can therefore owe the full 2027 tax. Late payment adds a $200 penalty plus interest of 1.5 percent per month on the tax and penalty.

Learn how to dissolve an LLC or corporation before December 31, 2026: state filings, Form 966, final returns, Form 5472, payroll forms, and EIN closure.

10/28/2026

This guide explains when the Taxpayer Advocate Service can help with an IRS problem, what Form 911 asks for, and what happens after you submit it. It also lists the case types the Taxpayer Advocate Service (TAS) is not accepting as of October 2026, so you can judge whether a request is worth filing now.

What the Taxpayer Advocate Service is

TAS is an independent organization within the IRS. According to IRS Tax Tip 2024-77, its service is free. TAS has offices in every state, the District of Columbia, and Puerto Rico. Its toll-free number is 877-777-4778.

TAS is not a first stop. It helps taxpayers resolve problems they have not been able to resolve with the IRS through normal channels. Contact the IRS office named on your notice first, and keep a record of each call and letter.

When the Taxpayer Advocate Service can help

The TAS page Can TAS help me with my tax issue? lists nine reasons for accepting a case. They fall into three groups.

See when the Taxpayer Advocate Service can help with an IRS problem, what Form 911 asks for, how to submit it, and which cases TAS is not accepting now.

09/29/2026

If you are a foreigner owning a U.S. corporation or a U.S. disregarded entity, Form 5472 will apply to you. A new memo from the IRS Office of Chief Counsel changes how penalty abatement requests are reviewed. You will learn what the memo says and why some common excuses no longer work.

What Is Form 5472 and Who Must File It?

Form 5472 is an information return. It reports transactions between a reporting corporation and a foreign or domestic related party.

You must file it if your U.S. corporation is 25 percent or more foreign-owned. You must also file it if you own a foreign-owned U.S. disregarded entity. A disregarded entity is a business, often a single-member LLC, that is not treated as separate from its owner for tax purposes.

For a full breakdown of related forms, see our guide to U.S. tax forms for foreign-owned businesses.

What Happens If You Miss the Deadline?

If you are a foreigner owning a U.S. corporation or a U.S. disregarded entity, Form 5472 will apply to you. A new memo from the IRS Office of Chief Counsel chan

09/24/2026

If you sell to U.S. customers through a U.S. entity, Form 5472 rules may apply to you. Missing this form can trigger a steep penalty. This post explains what is at stake and what recent guidance says about fixing a problem.

What Is Form 5472 and Who Must File It?

Form 5472 reports transactions between certain U.S. businesses and their foreign owners or related parties. A disregarded entity is a business, often a single-member LLC, that the IRS treats as part of its owner for tax purposes.

Under IRC Section 6038A, this filing requirement applies to:

- U.S. corporations that are 25% or more foreign owned

- Foreign-owned U.S. disregarded entities engaged in a U.S. trade or business

- Related parties that had reportable transactions during the year

Many foreign e-commerce sellers use a U.S. LLC to hold a bank account or process payments. That structure can create a Form 5472 filing duty, even with no U.S. tax due. The form is filed with a pro forma Form 1120, a U.S.

If you sell to U.S. customers through a U.S. entity, Form 5472 rules may apply to you. Missing this form can trigger a steep penalty. This post explains what is

09/01/2026

Hiring your first employee is an exciting milestone for any business. It often means your company is growing and you are ready to bring in extra support. Before you make an offer, however, it's important to understand the tax responsibilities that come with having employees.

Make Sure You Classify Workers Correctly

One of the first decisions you'll need to make is whether the person you're hiring should be treated as an internal employee or an independent contractor. The distinction matters because employees and contractors are taxed very differently.

Employees typically have income taxes, social security, and Medicare taxes withheld form their paychecks. Independent contractors are generally responsible for paying and managing their own taxes for the year. If you misclassify you workers, it can lead to penalties, back taxes, and additional reporting requirements. It is worth the time to determine the correct classification for your worker from the start.

Hiring your first employee is an exciting milestone for any business. It often means your company is growing and you are ready to bring in extra support. Before

08/25/2026

Giving gifts to clients, employees, or business partners is a great way to strengthen your relationship and show appreciation. However, many business owners are surprised to learn that not all business gifts are fully deductible. The IRS has specific rules regarding what qualifies as a business gift and how much can be deducted each year.

Understanding these rules can help you avoid unexpected issues at tax time while still allowing you to invest in important business relationships.

What Counts as a Business Gift?

A business gift is generally any item given in the course of conducting business.
Gift examples include:

- Holiday gifts for clients

- Gift baskets or branded merchandise

- Tickets to events

- Gift cards for employees

- Thank you gifts for vendors or referral partners

The tax treatment of a gift often depends on who receives it and the purpose behind it (holiday, birthday, etc).

08/18/2026

Expanding into the United States comes with plenty of opportunities, but it also introduces a challenge that many foreign business owners do not expect: building credit. Even successful companies with strong financial histories in their home countries often start from scratch when entering the American market. Establishing business credit early can make it easier to open bank accounts, qualify for financing, secure leases, and work with suppliers.

If you are planning to operate in the U.S., understanding how the credit system works can help position your business for long-term growth.

Why U.S. Business Credit Matters

Business credit serves as a financial track record for your company. Lenders, vendors, landlords, and even potential partners may review your credit history before deciding to work with you.

08/11/2026

When reviewing your business finances, it's important to understand that gross revenue and taxable income are not the same thing. Many business owners assume that every dollar their company earns will be taxed, but your actual tax liability is generally based on taxable income after eligible deductions and expenses are taken into account.

Understanding the distinction between these two numbers can help you plan for taxes, cash flow, and making informed decisions.

What Is Gross Revenue?

Gross revenue is the total amount of money your business brings in before any expenses are deducted. This includes income from sales, services, and any other business activities.

For example, if your company generated $500,000 in sales during the year, your gross revenue would be $500,000. At this stage, expenses such as payroll, rent, software subscriptions, and office supplies have not yet been factored in.

When reviewing your business finances, it's important to understand that gross revenue and taxable income are not the same thing. Many business owners assume th

08/04/2026

Taking out a business loan can provide the funding needed to expand operations, buy supplies, hire employees, or manage day-to-day expenses. While loans can be an important tool for growth, many business owners are unsure about how borrowed money affects their taxes.

The good news is that receiving a loan generally does not increase your taxable income. However, how you use the funds and repay the loan can have tax implications that are important to understand.

Are Business Loans Taxable?

In most cases, business loans are not considered taxable income. Because the money must eventually be repaid, the IRS doesn't treat loan proceeds the same way as revenue from sales and services.

For example, if your company receives a $100,000 loan from a bank, that amount isn't added to your taxable income simply because it went into your bank account. Instead, the loan creates a liability that your business is responsible for repaying over time.

What Parts of a Loan Can Be Deducted?

Taking out a business loan can provide the funding needed to expand operations, buy supplies, hire employees, or manage day-to-day expenses. While loans can be

07/28/2026

Investing in the United States can create tax obligations that many foreign investors do not expect. The rules vary depending on the type of investment, how much involvement you have in the business, and whether you earn income from U.S. sources.

Understanding the basics can help you avoid penalties and make better decisions before investing.

What Counts as U.S.-Sourced Income?

Foreign investors may owe U.S. tax on income earned in the United States. This can include:

- Rental income from U.S. property

- Dividends from U.S. companies

- Interest payments

- Income from a U.S. business

- Capital gains in certain situations

The tax treatment depends on where the income comes from and the type of investment you make.

Do Foreign Investors Need to File a Tax Return?

Not every foreign investor has to file a U.S. tax return, but many do.

For example, you may need to file if you:

- Own part of a U.S. business

- Receive rental income from property in the U.S.

- Sell U.S.

Investing in the United States can create tax obligations that many foreign investors do not expect. The rules vary depending on the type of investment, how muc