About
What Fylit is, in plain terms
Form 5472 is an IRS information return. The IRS instructions describe how a foreign-owned U.S. disregarded entity files it, attached to a pro forma Form 1120, and state a penalty for failing to file when due. Whether any of that applies to a particular LLC is a question for its owner and a qualified tax professional. Fylit does not answer it.
Fylit is a free educational resource. It explains the form in plain English, quotes the IRS so you can check the source, and offers a few simple tools. It does not ask for tax IDs, bank statements or transaction details, and it does not need an account.
Fylit has also built software that puts a person's answers onto the IRS forms. That software is switched off and there is no date for it to return. The waitlist is how we find out whether enough people want it.
What Fylit is, and is not
Plain-English guides that quote the IRS and link to the source
Free, simple tools such as a due-date calculator and a line finder
A way to tell us which Form 5472 tools you would want, through the waitlist
A tax preparer, CPA firm, enrolled agent or law firm
A service that determines whether you must file, or prepares or files a return
A source of tax or legal advice about your situation
Fylit is an educational resource. Nothing here is tax or legal advice, and nothing here determines whether you personally must file anything. Fylit does not prepare returns, fill in forms from your facts, or file anything. Fylit is not the IRS and is not affiliated with, endorsed by, or sponsored by the IRS or any government agency. Check the IRS's current forms and instructions, and ask a qualified professional about your own situation. Legal disclosures