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Tax Glossary
What Is Form 706?
Form 706 is a comprehensive IRS tax return used by the executor of a deceased person’s estate to calculate and...
Tax Glossary
What Is Form 5472?
Form 5472, officially titled the “Information Return of a 25% Foreign-Owned U.S. Corporation or a Foreign Corporation Engaged in a...
Tax Glossary
What Is Form 5471?
Form 5471, officially titled “Information Return of U.S. Persons With Respect to Certain Foreign Corporations,” is an annual reporting document...
Tax Glossary
What Is “Form 3520-A”?
Form 3520-A is an IRS annual information return used to report the financial activity, balances, and operations of a foreign...
Tax Glossary
What Is “Form 3520”?
Form 3520 is an annual informational return used by U.S. taxpayers to report large financial gifts or inheritances received from...
Tax Glossary
What Is Form 1118?
Form 1118, officially titled “Foreign Tax Credit—Corporations,” is an extensive IRS tax form used by corporate entities to calculate and...
Tax Glossary
What Is “Form 1099-DA”?
Form 1099-DA is a specialized IRS information return used by digital asset brokers—including centralized cryptocurrency exchanges, hosted wallet providers, and...
Tax Glossary
What Is “Form 1042-S”?
Form 1042-S is an IRS tax form used to report U.S.-sourced income paid to foreign individuals, foreign businesses, or non-resident...
Tax Glossary
What Is “Form 1041”?
IRS Form 1041, officially titled the “U.S. Income Tax Return for Estates and Trusts,” is a federal tax return used...
Tax Glossary
What Is “Form 1024”?
Form 1024 is an official application used by certain non-profit organizations to request formal recognition of tax-exempt status from the...