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Cedar Rapids Iowa online Form 5471 (Schedule O): What You Should Know
Forms 990: Information Return for Domestic and Imputed Foreign Source Income from Other Than a U.S. Owner in Certain Cases. IRS 990 tax forms are used by the Internal Revenue Service, which has a role in administering the Internal Revenue Code of 1986, as amended (the U.S. Internal Revenue Code).  The tax forms are commonly used when filing state, federal, and foreign taxes.  Forms 990 is primarily a tax form for the reporting of U.S. source income for a foreign financial institution where the institution is a U.S. non-resident alien controlled by U.S. taxpayers.  Forms 990 is not used to determine the United States eligibility for a credit, tax-saving adjustment, Credit, or write-off for U.S. sources. The IRS does not use or require U.S. taxpayers to fill out the Form 990 to estimate or collect a foreign tax credit (other than the foreign earned income exclusion/excludable amount) under section 91(a)(23) or to report foreign tax credits on a Form 3115.  Foreign tax credits are reported and paid on Form W-8BEN, Worldwide Income Tax Return.  Form 990 forms are not required by the IRS to report a foreign tax credit for domestic earned income. In general, Form 990-EZ, General Tax Return, contains all data for the return except the information for foreign-source income.  Form 990 will provide information under Section 1471 of the Internal Revenue Code for the income, deductions, and credits.  In addition, this form can be used as a backup (along with other tax forms) to establish the liability for a failure to report the foreign source income.  For more information, see Form 990, General U.S. Income Tax Return. Forms 990-EZ, General Tax Return, are also used to provide information under Section 1471 of the Internal Revenue Code for the foreign source income of partners, members, or other related persons of an IRS tax return preparer, trustee, or other person who is preparing a tax return (as an administrator for a corporation, self-employed person, farm or fishing partnership, or real estate investment trust).  The Form 990-EZ also is filed for nonresident aliens (individuals residing in foreign countries).
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