Has anyone dealt with the GILTI tax in situations like this? If the Ghana LLC is treated as a foreign corporation rather than disregarded, wouldn't the US owner be subject to GILTI on earnings?

This is a great discussion! I'm dealing with a similar situation with a client who has a foreign LLC in Mexico. One thing I'd add is that even though the Ghana LLC will likely be treated as an FDE and flow through to Schedule C, don't forget about potential state tax implications. Some states have different rules for recognizing foreign entities, and you might need to file additional state forms or make state-level elections. Also, make sure to document your classification decision thoroughly in your workpapers. The IRS has been scrutinizing foreign entity classifications more closely lately, so having clear documentation of why you treated it as a disregarded entity (default classification, no Form 8832 election, single owner, etc.) will be crucial if you ever get questioned. Has anyone here dealt with retroactive compliance for missed Form 8858 filings? I'm wondering if the reasonable cause exception applies when the taxpayer wasn't aware of the filing requirement.

Don't forget to check which payment processor you're using for your taxes! They each charge different rates: Pay1040.com - 1.87% fee (min $2.50) PayUSAtax.com - 1.96% fee (min $2.55) ACI Payments - 1.98% fee (min $2.50) Made the mistake of not checking last year and used the most expensive one. That 0.11% difference adds up on a big tax bill!

Great thread! I'm in a similar situation this year. One thing I'd add is to make sure you factor in the opportunity cost of tying up your credit limits when doing these large tax payments. I learned this the hard way last year when I put $25k on my Amex Gold and then couldn't use it for regular spending while waiting for the payment to process. Had to use my backup cards which didn't have any bonuses running. Also, for anyone considering the Chase cards mentioned here - be aware of Chase's 5/24 rule if you've opened a lot of cards recently. I got denied for the Sapphire Reserve because I had opened 6 cards in the past 24 months, even though my credit score was excellent. One more tip: if you're planning to do this again next year, consider setting calendar reminders to apply for new cards in January/February so you have them ready by April. The application-to-approval process can take weeks, especially for business cards.

My sister is actually a CPA and I asked her about this. She said they have a standard practice of getting written permission from clients before filing extensions. She was pretty shocked your accountant did this without asking. One thing she mentioned - check if you signed any kind of engagement letter that might have given blanket authorization for extensions. Some accountants have this buried in their paperwork. If not, what he's doing is pretty unprofessional.

This is definitely not normal professional behavior. I've been doing my own taxes for years, but when I used an accountant, they always communicated major decisions like extensions beforehand. What really concerns me is that you've been owing significant amounts ($7,500 last year) and your accountant isn't helping you plan for this. A good tax professional should be proactive about estimated payments or adjusting withholdings to avoid these large year-end bills, especially when it's a recurring pattern. The communication issue is the biggest red flag though. Tax season is busy, but that doesn't excuse going radio silent or making unilateral decisions about your finances. You're paying for a service, and part of that service should be keeping you informed about what's happening with your return. I'd strongly recommend looking for a new accountant. When you interview potential replacements, ask specifically about their communication practices and how they handle extensions. A professional will have clear processes for both.

Just a quick question - how different is the MICR number from your actual account number? Sometimes part of the MICR includes your account number, so there's a small chance it might work if your actual account number is contained within the MICR sequence.

Don't beat yourself up too much about this - it's actually a pretty common mistake! I've seen several people in tax prep forums make similar errors with MICR numbers, routing numbers, and account numbers. The good news is that while it's frustrating, it's not going to cause any major problems beyond the delay. One thing to keep in mind is that when the IRS switches to sending a paper check, make sure your mailing address is current with them. If you've moved recently, you might want to file a Form 8822 (Change of Address) to ensure the check gets to you. The last thing you want is for the check to get lost in the mail on top of the direct deposit issue. Also, for future reference, most banks have their routing and account numbers clearly listed in online banking or on deposit slips, which tends to be more reliable than trying to read the MICR line. Live and learn!

Something nobody's mentioned yet - if your sister didn't get an EIN (tax ID) for the trust, that's a bigger issue than the bank account. The trust is considered a separate taxpayer from both your sister and the original trustmakers (your parents). Without an EIN, how is she planning to file the trust tax return? And without a trust tax return, how will she generate legal K-1s? This might be why she's delayed getting you the K-1.

I went through something very similar when my father passed and I was named successor trustee. The stress of not knowing if you're handling everything correctly is overwhelming, especially when you're already grieving. From my experience, your sister's approach creates unnecessary complications and potential liability issues. Even though it's not strictly illegal, mixing trust funds with personal accounts makes proper accounting much more difficult and could cause problems if the IRS ever audits the trust. Here's what I learned the hard way: Always get an EIN for the trust immediately after the grantor's death, open a separate trust checking account, and keep meticulous records of every transaction. When I sold my dad's house, I made sure the proceeds went directly into the trust account, then issued checks from that account to beneficiaries with clear documentation. The good news is that since you're the beneficiary, your main concern is getting that K-1 form so you can properly report your share on your personal return. The burden of proper trust administration falls on your sister as trustee. If she can't provide accurate documentation, that becomes her problem with the IRS, not yours. I'd strongly suggest having a gentle but firm conversation with your sister about getting professional help to clean this up properly. It's worth the cost to avoid potential headaches down the road.