You will need to file tax on your U.S. Source Income.
You need to have someone , like a local CPA, handling your U.S. accounts.
There is withholding also.
There are filings you will need if the U.S. person (LLC) has any access overseas...
You have a lot of things to cover. This is not simple.
Please remember to designate your question's BEST ANSWER.
$0 return is good. It sets up limitation period on return year.
You can't write off your time. Pay zero until it starts making money.
Look at the corporate position as a pro bono position until it starts making money.
IRS doesn't want it to be a hobby. You have 3 years before the 3 of 5 year rule presumption applies and even then you can refute it with facts.
Sometimes a 1099 will issue by the entity from which funds are transferred to simply cover its own obligations. If audited or if you get an adjustment letter, you should gather evidence of receipt of moneys at the other end of the transaction to show that it never came into your hands.
You seem ready to go against Chase. However, remember that you have a duty to mitigate. Therefore, don't fail to respond to IRS inquiry/audit to prove that the money was received by the rollover recipient....
You said " I think he should just plead guilty to some of the charges." The case analysis is between the accused citizen and his lawyer. Lets hope he is honest with his lawyer so that he can get the most informed opinion. You may not know the whole story.
If you want to help him, make sure he has a good lawyer.
Its not so much the "audit" source, but the type of tax.
Every state tax has its own character. If the tax is a fiduciary tax like employer trust fund (and in some states like Washington State-- sales taxes are fiduciary; but in California they are not).
Further, there are age limits on taxes that most bankruptcy attorneys know, namely the 3 year, 2 year and 240 day age limits (without tolling) that have to be met. If you do bankruptcy and the taxes are not dischargeable because of...
You gotta be kidding.
First, the attorney has no basis in his hours donated. Under the rules if he wanted to spend time doing nothing or helping the nonprofit, the tax result is the same. If there is no tax fraud, there is no reason for a bill.
If he tried to write off the $100 as a donation it would be tax fraud because he has zero basis in the "donation".
Second, do you realize that a cash donation of $100 for a self employed individual costs them about $110? Charitable...