WebAug 29, 2024 · spouse and i have an LLC . we filed form 1065 with IRS. the 1065 creates K-1's that we then used to complete our personal 1040's ( ie. the income/loss should be pass thru ). .. BUT IRS is saying the LLC owes fed taxes?!? I want to get a copy of the tax transcript (i.e. the IRS version of our 1065). WebJul 15, 2024 · 38 Years of Hands-On Experience in All Matters Related to Business and Individual Taxes, Including Business Entity Structuring, Tax …
Raymond Repinski, CPA - Senior Tax Manager - LinkedIn
WebWhen, when a qualifying LLC elected to be an S Business, it should file a Form 1120-S, U.S. Income Tax Get for an S Corporation and S limited laws apply to an LLC. Any owner reports their pro-rata share of corporate income, credits or … WebAn LLC that is treated as a corporation will need to file a Form 1120 (U.S. Corporation Income Tax Return) and have to pay regular corporate tax. Form 1120: This form reports income, credits, profit, loss, and deductions used to access tax liability for filing as a C Corp. simple dynamics
LLC Tax Preparation: Everything You Need to Know - UpCounsel
WebNov 23, 2024 · LLC tax preparation involves different tax rules and forms, depending on the business's tax status. LLCs may be taxed like sole proprietorships, partnerships, or corporations. The various forms you might use to file taxes include the following: Schedule C Form 1065 Form 1120 or 1120S Schedule K-1 WebFeb 2, 2024 · Tax treatment of an LLC. The IRS assumes that LLCs with more than one member are partnerships for tax purposes. That means the LLC itself pays no tax, but … WebSep 13, 2024 · You can apply for a quick refund of estimated taxes for your corporation by filing Form 4466. You can use this form for forms 1120, 1120-C, 1120-F, 1120-L, and 1120-PC. 9 To amend a tax return for an S corporation, file an amended Form 1120-S and check Box H (4) (Amended Return) on the Page 1. simple earth png