Rare Tax Break for Late filed 5472 Forms
In case this applies to anyone here: Until September 30th, you can file IRS Form 5472 without penalty for tax years 2019 and 2020.
(Form 5472 is for nonresident owners of US LLCs. Normally, if you file it late, there's a $$$$ penalty.)
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Was the tax break only for US LLCs or is it available for US c-corps? Not sure about LLCs but for C-Corps 5472 is only applicable if you did some reportable transactions (Like paying yourself as a contractor).
Also, the deadline for 2021 is also 15th Oct if you filed the extension 7004. If someone lagging behind, check with your accountant/ CPA.