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I am a sole owner of an LLC and an extension was filed in April. I believed that I had until Oct. 15 to complete/file taxes; however I was just informed that there was a new rule for filing Federal and that now the LLC filing is due Sept. 15, 2009. This is for 2008 taxes and I live in CA. I can't seem to find any validation on websites to this alleged "new" rule that I heard about yesterday. Please advise...
Country/State/Province of question: CALIFORNIA Already Tried: FEDERAL & STATE OFFICIAL WEBSITES, TRYING TO CALL FED AND STATE NUMBERS FOR SMALL BUSINESSES, CALLING ATTORNEY WHO SET UP LLC, ACCOUNT FOR BUSINESS.
Greetings, Did the LLC file an election to be taxed as a corporation (by filing Form 8832 with the IRS)? This will determine the due date of the return. Thank you for the additional information.John Gordos EA40066.0603376968
I believe CA Form 568 was filed and I paid the $800 LLC fee at the beginning of the year, and am considered a disregarded entity. Does that help?
Hello again, A disregarded entity is what a single member LLC is unless there is an election by the LLC to be taxed as a corporation. A disregarded entity is, as the name implies, disregarded for tax purposes. That is, if the activity of the LLC was on a Schedule C for a trade or business the LLC will still be filed as a Schedule C as part of your individual return. Or , if the LLC was for a rental activity the LLC activity is still on the Schedule E as part of your individual return. Since the individual that is the sole owner of an LLC that is a disregarded entity reports the activity as part of the individual return the October 15 extended due date for individuals does apply to the individual. What you had heard about was the change in the extended due date for business entities (such as corporations); so, it does not apply to a disregarded entity that did not elect to be taxed as a corporation. Please ask if you need more assistance. Best regards. John Gordos EA40066.0730437153
OK, I will discuss with my accountant. Can you provide me a reference as to where the "change" for the due date for business entities/corps. can be found? Also, will I be able to ask you a follow-up question if needed in the next day, if I find out any further info.?
Hello again, There is an article on the change in business due dates at http://www.irs.gov/newsroom/article/0,,id=184347,00.html You can post another question (and put me name in it if you want to request me to personaly answer.) at any time. Or, you can post another question in this thread (and accept as many questions as you like in one thread) until the thread is closed. I hope this helps. Please ask if you need more assistance. Best wishes. John Gordos EA40066.0808178588
Enrolled Agent
I have prepared individual, trust, partnership, and corporate taxes since 1987.