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My wife & I have a partnership in a LLC that owes close to
My wife & I have a partnership in a LLC that owes close to $5000 to the IRS - penalty for being late reporting for the tax year 2013. The LLC is dissolved, but I just got a notice from IRS of a Levy o… read more
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I have a penalty for late filing of partnership LLC tax
I have a penalty for late filing of partnership LLC tax returns and looking for examples of reasonable cause Reading about the FTA and checking if we could be eligible … read more
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A partnership return (1065) was filed. It did not have to be
A partnership return (1065) was filed. It did not have to be filed since all 3 partners could report their respective income and expences on their individual returns . Is there any way to nulify that … read more
Mark Taylor
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I have a question regarding a LLC that was being taxed as a
I have a question regarding a LLC that was being taxed as a partnership but filed form 8832 to change to be taxed as a c-corp effective 4/1/2016. Does this entity need to file both a 1065 and a 1120 f… read more
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I got a letter from the IRS saying I was being fined for
I got a letter from the IRS saying I was being fined for $10k for late filing fees for taxes in 2011 and 2012. This was the first letter I had received about it and it said that it was going into enfo… read more
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Late filing of a first year LLC return that generated no
Customer: ***** *****...late filing of a first year LLC return that generated no income … read more
Stephen G.
Stephen G.
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My wife and I have owned 2 rental duplexes (4 total units)
My wife and I have owned 2 rental duplexes (4 total units) in Utah since 2006 and filed the rental income information on those two properties each year on Form E of our 1040 return. In 2007 we formed … read more
Lane
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My wife and I purchased 2 duplexes in Utah in 2005 and have
My wife and I purchased 2 duplexes in Utah in 2005 and have filed the rental income information on them each since on Form E of our 1040 returns. In 2007 we formed an LLC company for the rental compan… read more
Robin D.
Robin D.
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We have been assessed $4000 in penalties filing of
We have been assessed $4000 in penalties for late filing of Form 1065. 3 family member partners in an LLC. Any way to reduce or request help?… read more
PDtax
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Master's Degree
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I filed a partnership return late without and extension, and
I filed a partnership (LLC) return late without and extension, and have received a stiff late filing fine. There is no tax due. Each of the partners were single member LLCs owned by IRAs. Since I knew… read more
Lev
Lev
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Partnership return was filed 3 1/2 months late. What is the
Partnership return was filed 3 1/2 months late. What is the best approach to ask for abatement of penalty based on the fact that it is a rental property (2nd year of business) and the income was only … read more
Megan C
Megan C
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My wife and I have a partnership that is an LLC. We would
My wife and I have a partnership that is an LLC. We would like to now (07.01.13) elect to file an 1120S. Does it require a Form 8832 "Pursuant to Rev Proc 2004-48 and a Form 2553 Pursuant to Rev Proc … read more
Lev
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Bachelor's Degree Equivalent
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Hi I was part of a partnership in 2012. We ended the partnership
Hi I was part of a partnership in 2012. We ended the partnership on 11/30/2012. We filed or partnership return on 3/26/2013 and now we got an IRS letter saying our return was late. Did we not have til… read more
Phillip B, EA
Phillip B, EA
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Bachelor's Degree
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A CP504B was sent to our LLC partnership and the deadline is
A CP504B was sent to our LLC partnership and the deadline is tomorrow. Amount due is related soley to the late file penalty from our first year of operation, as no income tax was due for that year. (o… read more
Megan C
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This is the first year for me to file electronically and when
This is the first year for me to file electronically and when I transmitted 3 LLC's on the same day they did not go through. I retransmitted and they were received by IRS but a late penalty was given … read more
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Is there relief from a penalty for filing a late 1120-S?
A Client got a letter for late filing penalty for an 1120-S. My client filed the 1120-S on September 15, 2011 for tax year 2010. My client also believed that her previous accountant filed a tax extens… read more
Lev
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What is reasonable cause for late filing of partnership
what would be considered examples of reasonable cause for filing a partnership (LLC) return past the april 15 deadline? No taxes were payable under the partnership return. It was only filed late. K-1 … read more
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I currently have a LLC registered in the state of New Jersey.
I currently have a LLC registered in the state of New Jersey. It was formed in 2006, and taxes have been filed for that fiscal year (calendar), and 2007. There has been no revenue generated over this … read more
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