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    #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.
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    #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

      #3
      Originally posted by Uncle Sam View Post
      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

        #4
        Originally posted by Uncle Sam View Post
        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

          #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

            #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

              #7
              Originally posted by Uncle Sam View Post
              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

                #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

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