Accounting support and income reporting for companies in the United States
Comprehensive accounting and tax reporting for LLCs and C-Corporations in the United States. Bookkeeping, preparation and filing of IRS forms, deadline monitoring, and full tax compliance — even if the company had no business activity
WoBorders is an independent private consulting company. We provide advisory and administrative support and are not affiliated with any government authority or official registry
countries where we support company formation and international business growth
years of experience in international business consulting and structuring
clients who successfully launched their businesses abroad with our support
Our partners
What’s included in U.S. company accounting support
We provide both full-service accounting for U.S. companies and individual services tailored to your business needs
What you need for U.S. accounting and tax compliance
Key practices that help your business stay compliant and avoid unnecessary questions from banks and tax authorities
Financial records
Keep all financial records, including invoices, bank statements, receipts, contracts, and Stripe, PayPal, or other system payment confirmations. Complete documentation is essential for accurate bookkeeping and tax reporting
Timely data submission
Provide your accountant with financial documents regularly and notify them of business changes, new contracts, or new revenue streams. This helps ensure accurate reporting and prevents errors
Financial transparency
Use a dedicated business bank account and avoid mixing personal and company funds. You should always be able to verify the source of income in case of a bank or IRS review
Communication with CPA
Respond promptly to your accountant’s requests and consult them before making major financial or legal decisions. This helps you understand tax implications and minimize risks
Need help with U.S. accounting and tax reporting?
What tax returns we prepare for U.S. companies
All U.S. LLCs and Corporations (C/S) are required to file federal and state tax returns — even if there was no business activity. For companies with foreign owners, the key requirement is the annual filing of Form 5472 with the IRS together with a supporting form (pro forma Form 1120). The penalty for failure to file or late filing may be $25,000 for each year.
In addition, companies with foreign ownership of 10% or more must file the BE-12 report every five years.
The company files Form 5472 together with a pro forma Form 1120.
The nonresident owner files Form 1040-NR if they have U.S.-source income or effectively connected income.
By default, the entity is treated as a partnership and files Form 1065.
Each partner receives Schedule K-1. If there are transactions with related foreign parties, Form 5472 may be required. If withholding tax applies, Forms 8804 / 8805 must be filed.
The company files the federal corporate tax return — Form 1120.
If there are transactions with related foreign parties, Form 5472 must be filed together with Form 1120.
If dividends are distributed:
– Form 1099-DIV for U.S. residents
– Forms 1042 / 1042-S for payments to nonresident shareholders
We help determine your reporting requirements and prepare all necessary forms in compliance with IRS regulations.
How much does U.S. tax reporting cost?
Find out which tax filings your company actually needs
We assess your structure and transactions to determine requirements and filing costs
How U.S. accounting support works
Accounting support in the United States includes three key stages: ongoing transaction recording, preparation of financial statements, and filing tax returns in compliance with IRS requirements
Why companies choose WoBorders for U.S. accounting
We support businesses in the United States in full compliance with federal and state requirements. We work with LLCs and Corporations of various structures, ensuring accurate bookkeeping, timely tax filing, and professional communication with tax authorities
We’ll determine your reporting requirements and estimate the cost
Your consultant
Ivan Chebotarov
CEO & co-Founder
Describe your case
We will identify the required forms, filing deadlines, and provide a preliminary cost estimate based on IRS requirements. We respond during business hours (usually within 15 minutes)
What our clients say about WoBorders
Frequently asked questions about U.S. tax reporting and accounting
How much do accounting services cost in the United States?
The cost depends on the number of transactions, the company structure, and the scope of reporting.
Financial report preparation starts from $100. Tax return preparation and filing start from $550.
For an accurate estimate, we analyze your business activities and provide an individual quote.
Is it mandatory to have an accountant in the U.S., or can you handle accounting yourself?
Companies in the United States are required to maintain records of all financial transactions. Small businesses with a limited number of transactions may handle bookkeeping independently.
If your operations are more complex or involve international clients, working with an accountant or CPA is recommended to avoid errors and potential penalties.
How does Sales Tax work for e-commerce and service businesses?
Sales Tax is a consumption tax paid by the end customer. The business charges the tax at the point of sale, collects it, and remits it to the state or local authorities.
Rates and rules vary by state. Registration and collection obligations arise once the business establishes an economic or physical nexus.
What tax forms does a business need to file in the United States?
The required forms depend on the company type, ownership structure, and business activity.
Most common:
– Form 1120 — for C Corporations
– Form 1065 — for partnerships and multi-member LLCs
– Form 5472 — for foreign-owned companies
– Information returns (Forms 1099 or 1042-S) — if payments are made
The exact filing requirements are determined on a case-by-case basis in accordance with IRS regulations and the company’s activities. A detailed overview of forms and requirements is available in our guide.
What penalties apply for late or missed tax filings in the U.S.?
Penalties depend on the type of form and the length of the delay.
Most common:
– Form 5472 — penalty starting from $25,000 for failure to file or incorrect filing
– Form 1120 — up to 5% of the unpaid tax per month (up to 25%)
– Form 1065 — a monthly penalty multiplied by the number of partners
Late filing may result in significant financial penalties and additional IRS scrutiny.
What are the most common reporting mistakes businesses make in the United States?
Most common mistakes:
– Assuming that no filing is required if the company has no income
– Failure to file Form 5472 for a foreign-owned LLC
– Missing ITINs for owners or partners
– Ignoring withholding obligations for non-residents
– Late preparation of financial documents
Proper reporting planning helps avoid penalties and issues with the IRS.
Additional services for U.S. company owners
