Form 5472 International Tax Evasion & Money Laundering
Accounting complexities bode dangerous for foreign investors.
Prior to 2017, foreign investors used a 2-tier investment approach for US source assets. They would obtain a single member US LLC, which invested as a 25% foreign shareholder of a US corporation which made US investments to purchase US assets. This white paper reviews how investors were able to hide their ownership and the tax compliance penalties involved.
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