Form 966

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  • NotEasy
    Senior Member
    • Mar 2007
    • 374
    #1

    Form 966

    I think Form 966 is used to dissolve a LLC.

    Does anyone know if the IRS will give a confirmation that the LLC has been dissolved after they receive the Form 966?

    Thank you.
    Tags: None
    • Uncle Sam
      Senior Member
      • Jul 2006
      • 1461
      #2
      Form 966

      Form 966 is used to notify IRS of dissolution of a corporation.

      If the LLC is a partnership or proprietorship - 966 doesn't apply.
      Uncle Sam, CPA, EA. ARA, NTPI Fellow

        Comment

        • NotEasy
          Senior Member
          • Mar 2007
          • 374
          #3
          Originally posted by Uncle Sam
          Form 966 is used to notify IRS of dissolution of a corporation.

          If the LLC is a partnership or proprietorship - 966 doesn't apply.
          So if someone wants to dissolve a partnership, is there form needed to be filed with the IRS?

            Comment

            • NotEasy
              Senior Member
              • Mar 2007
              • 374
              #4
              Originally posted by Uncle Sam
              Form 966 is used to notify IRS of dissolution of a corporation.

              If the LLC is a partnership or proprietorship - 966 doesn't apply.
              By the way, you mentioned that if the LLC is a partnership or proprietorship, 966 doesn't apply.

              The taxpayer has been filing the LLC as a disregarded entity in her individual tax return. Can I take that to mean the LLC is a "proprietorship"?

              Thank you for your help.

                Comment

                • Gary2
                  Senior Member
                  • Aug 2010
                  • 2066
                  #5
                  If it's a single member LLC filing directly on a Sch. C, then yes, it's a sole proprietorship.
                  Even if it's a Sch. E, it's disregarded and the IRS doesn't want to know about it unless there are employees.

                    Comment

                    • Uncle Sam
                      Senior Member
                      • Jul 2006
                      • 1461
                      #6
                      Form 966

                      Yes - your client should have, upon forming the LLC, filed Form 8332 with IRS noting that.

                      And there's no official dissolution form for a partnership. Maybe some state filings
                      depending upon your state. With IRS, the final 1065 is marked "FINAL".
                      Uncle Sam, CPA, EA. ARA, NTPI Fellow

                        Comment

                        • Gary2
                          Senior Member
                          • Aug 2010
                          • 2066
                          #7
                          Originally posted by Uncle Sam
                          Yes - your client should have, upon forming the LLC, filed Form 8332 with IRS noting that.

                          And there's no official dissolution form for a partnership. Maybe some state filings
                          depending upon your state. With IRS, the final 1065 is marked "FINAL".
                          I think you mean 8832. Isn't filing the 8832 optional if you're choosing the default, i.e. a disregarded entity for an SMLLC?

                            Comment

                            • Uncle Sam
                              Senior Member
                              • Jul 2006
                              • 1461
                              #8
                              Form 966

                              Yes - I believe it is optional - but I go through the formality of having clients file it
                              just so IRS has on record - in case it needs to be proven at some future time.
                              Uncle Sam, CPA, EA. ARA, NTPI Fellow

                                Comment

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