DIY US Company Annual Tax Filing: Total Cost — $3

DIY US Company Annual Tax Filing

Just knocked out my US company's annual tax filing all by myself!

Completely DIY, total cost: $3

1. Downloaded Form 1120 + 5472 from the IRS website
2. Filled them out and faxed them to the IRS via faxzero.com
3. Done!

How Much Did I Save?

Saved several hundred dollars in accountant fees — and honestly, it wasn't nearly as complicated as I expected.

Step-by-Step

1. Download the Forms

Head to the IRS website and download Form 1120 (U.S. Corporation Income Tax Return) and Form 5472 (Information Return of a 25% Foreign-Owned U.S. Corporation).

2. Fill Out the Forms

Complete the forms with your company's information, following the included instructions. If your company had no actual operating revenue, the forms are relatively straightforward to fill out.

3. Submit by Fax

Fax the completed forms to the IRS via faxzero.com. Cost: just $3.

Tips

• Form 5472 is required for any U.S. company with foreign ownership
• Zero-revenue companies have a much simpler filing
• Fax is one of the IRS's accepted submission methods
• Keep your fax confirmation receipt as proof of submission

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Author: Ivanvolt | Original Post