Running a U.S. business from abroad is exciting, but it also comes with tax obligations that can get confusing fast. If you're a non-U.S. founder with a U.S. entity, you're likely required to file certain IRS forms each year, even if your business had no revenue.
The big question becomes: should you try to file on your own, or work with a service like Bookmate?
In this article, we’ll walk through the key differences between filing your U.S. taxes yourself and working with Bookmate. We’ll compare costs, complexity, risks, and results so you can make the right decision for your situation.
Option 1: Filing U.S. Taxes Yourself
Some founders consider handling their own U.S. tax filings to save money or because they’ve done taxes in their home country before. While this approach can work for experienced filers, there are a few things to be aware of:
Pros of Filing Yourself
- Lower upfront cost if you already know what you're doing
- Full control over your filing process
- Immediate access to your documents and submissions
Cons of Filing Yourself
- Most forms required for non-U.S. founders cannot be submitted through standard tax software
- Foreign-owned entities must use specialized IRS e-filing systems that are not publicly available and can cost hundreds of dollars
- If you do not have access to this software, you may be forced to fax or mail paper forms to the IRS, which introduces delays, tracking issues, and the risk of the return getting lost or rejected
- IRS instructions are often difficult to understand, especially for non-U.S. residents
- Mistakes can trigger penalties of $25,000 or more
- No guidance if you’re unsure about which forms apply to you
- Limited ability to respond to IRS notices or follow-up questions
- Filing an extension is completely manual, and an error could void it
Example: Filing Form 5472 and the pro forma 1120 requires specific formatting and IRS-approved software that isn’t publicly available. Many founders try to use platforms like TurboTax or FreeTaxUSA, only to discover too late that those tools don’t support the forms they need.
Even mailing in a paper form won’t always work, and the IRS may reject or penalize an incorrect submission.
Option 2: Filing with Bookmate
Bookmate was built specifically for non-U.S. founders with U.S. businesses. We’ve filed thousands of returns for clients in more than 50 countries, and we specialize in the exact forms most global founders struggle with.
Pros of Filing with Bookmate
- Every return is prepared and reviewed by licensed CPAs who understand international filing
- Unlimited access to real humans who answer your questions clearly
- Flat-rate pricing starting around $400 to $500, with no hourly billing or surprise fees
- All necessary forms are included, including 5472, 1120, 1065, and 1040-NR
- IRS-authorized e-filing is included by default
- Extensions are automatically filed if needed—no extra work required
- Year-round support in case you receive a notice or need an amendment
Cons of Filing with Bookmate
- Higher upfront cost than filing yourself
- Requires you to submit your information through our secure onboarding process
- Response times may vary slightly during busy tax season
Example: Let’s say you're a founder in Brazil and you set up a U.S. single-member LLC through Stripe Atlas. You had no revenue yet, but you still need to file Form 5472 and a pro forma 1120. Bookmate will handle the full return, file your extension automatically if you’re running late, and guide you through what counts as a reportable transaction.
If it turns out your activity triggers a 1040-NR filing, we’ll explain why and take care of that too.
What Happens If You File Incorrectly or Miss a Deadline?
This is one of the biggest risks of trying to file on your own. Many of the forms required for non-U.S. founders carry steep penalties for missing deadlines or submitting incomplete information. Here are just a few examples:
- Form 5472: $25,000 penalty per year if not filed on time or with complete information
- Form 1065: $220 per partner, per month, up to 12 months
- Form 1040-NR: Late filing penalties start at 5 percent of the tax due, per month
Even if you had no income or business activity, the IRS still expects these forms to be submitted. There is no automatic forgiveness for missing deadlines due to confusion or lack of knowledge.
At Bookmate, we file IRS extensions for all clients who need more time. This gives you until October to complete your return without triggering penalties.
How Bookmate Makes It Easier
Here’s what you can expect when you file with Bookmate:
- Free Consultation – Book a 15-minute call and tell us about your business
- Simple Web Intake – We send you a short form to collect the details we need
Upfront Pricing – You receive a flat-rate quote with no surprise fees
- Form Preparation – We prepare all the forms, attachments, and extensions
- Electronic Filing – We e-file everything using IRS-compliant software
Follow-Up Support – We help respond to IRS notices or amend returns if needed
When DIY Filing Might Be OK
To be fair, there are a few situations where filing your U.S. taxes on your own could work. If you’re a U.S. citizen with a simple W-2 job or you’re a U.S.-based freelancer using only domestic income sources, a basic online tax tool may be enough.
But if you are a nonresident founder with a U.S. entity, or you’ve received any IRS forms like a 1099, 1042-S, or K-1, it’s best to talk to someone who understands how those forms apply to international filers. That’s what Bookmate is here for.
Let’s Make U.S. Compliance Simple
Filing your U.S. taxes shouldn’t feel like solving a puzzle. Whether you’re just getting started or have filed before, Bookmate can help you get it done right and avoid the costly mistakes that come from guessing. Book a free consultation with our team today. Or visit trybookmate.co to learn more.
Every tax situation is different. Let’s talk about yours.
