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LLC did not properly file form 2553 by March 15, 2019 for S
LLC did not properly file form 2553 by March 15, 2019 for S Corporation status as of January 1, 2019. Normally we file the late election with form 1120S. Can we file form 2553 now with the late electi… read more
DK_CPA
DK_CPA
CPA
Master of Science in Accounting & Taxationb
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I am a single member LLC started in 2018. I did not know to
I am a single member LLC started in 2018. I did not know to file 2553 for the intended S-corp status in the first year, and so submitted 2018 taxes under my personal filings, schedule C. I definitely … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
32,463 satisfied customers
Lane, This of the question that I asked you regrading the
Good afternoon lane, This is follow up of the question that I asked you regrading the client that was a single member LLC and I found it that the client would save way more tax dollars by changing the… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
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Made a mistake in revoking s corp for 2019 tax year. filed
made a mistake in revoking s corp for 2019 tax year. filed revocation letter and 8832 going back to LLC. 1/1/19. just realized this was not necessary. now just want to act like nothing happened - advi… read more
Barbara
Barbara
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I am the owner of an LLC but want to covert to s corp to
I am the owner of an LLC but want to covert to s corp to file taxes this year with a w2 and want my llc to file taxes separately. can I do the conversion to s corp for this tax year and how do I do it… read more
Barbara
Barbara
Enrolled Agent, Paralegal
11,200 satisfied customers
My company is currently a multi-member, manager-managed LLC
My company is currently a multi-member, manager-managed LLC taxed as an S corporation. We have had this structure, since 7/2014. Prior to that it was a single member LLC, disregarded entity.We are vot… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
7,270 satisfied customers
I am llc trying to form s corp. how to do it. With my
yes with my accountant he said need to file 2553 with irs … read more
taxmanrog
taxmanrog
Master's Degree
1,833 satisfied customers
If my LLC elected to be taxed as an S corporation and two
If my LLC elected to be taxed as an S corporation and two years later decided to revoke the S election and revert back to a partnership, would it also need to get a new EIN or could it keep the one it… read more
taxmanrog
taxmanrog
Master's Degree
1,833 satisfied customers
If client wants to revoke S-Corp election, reverting to a
If client wants to revoke S-Corp election, reverting to a disregarded entity (single-member LLC) does anything need to happen to the remaining stock basis that would affect his personal return? Also, … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
32,463 satisfied customers
Subchapter S corporation was organized with an ineligible
Subchapter S corporation was organized with an ineligible shareholder (partnership). Election is automatically terminated. How is IRS notified of the termination. … read more
PDtax
PDtax
Owner
Master's Degree
4,895 satisfied customers
I had filed my corporation return as 1120S in year 2015. its
i had filed my corporation return as 1120S in year 2015. its a New York LLC and the election has been approved as a s corp for tax purposes. Later i found out that i could have filed the federal retur… read more
taxmanrog
taxmanrog
Master's Degree
1,833 satisfied customers
I am a California organized single person llc. Last year I
I am a California organized single person llc. Last year I had elected to be taxed as an S-Corp, and was given advice by CPA to put "LAST RETURN" on the 1120S to ensure that I would no longer be treat… read more
Mark D
Mark D
Enrolled Agent
Master's Degree
1,338 satisfied customers
I transferred a rental property into a LLC. My husband and
I transferred a rental property into a LLC. My husband and I are the only members, but it is a multi member LLC and we elected to be taxed as a S corp. Do I carry over the basis as of the day we trans… read more
Megan C
Megan C
Certified Public Accountant (CPA)
Master's Degree
8,659 satisfied customers
Im dissolving my LLC that I started a month ago. I filed
I'm dissolving my LLC that I started a month ago. I filed form 2553 with the IRS to have s corp status. However, I have not heard back from the IRS yet. When I close the LLC do I have to close it as a… read more
Barbara
Barbara
Enrolled Agent, Paralegal
11,200 satisfied customers
I have a S Corp who is still paying the IRS prior years payroll
I have a S Corp who is still paying the IRS prior years payroll withholding tax. She closed her payroll account in 2012 and has only been taking draws and no salary. I am going to discuss setting up p… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
32,463 satisfied customers
Can a single member LLC previously filing form 1120S, file
Can a single member LLC previously filing form 1120S, file form 8832 and then file the corporate taxes on 1040 schedule C?… read more
Megan C
Megan C
Certified Public Accountant (CPA)
Master's Degree
8,659 satisfied customers
Consider an LLC filed with the state of LA. Have been filing
Consider an LLC filed with the state of LA. Have been filing as an S Corp with IRS for several years. I believe it would be best now to file as a Sole Propriertorship. What steps must I take to accomp… read more
RD
RD
Self Employed
Master's Degree
1,129 satisfied customers
Im currently an LLC partnership with 2 share holders and several
I'm currently an LLC partnership with 2 share holders and several properties. I started to change to an s-corp by submitting an s-corp election. I later found this is not what I want to do. How do I w… read more
RD
RD
Self Employed
Master's Degree
1,129 satisfied customers
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