Enity Classification?

[DixieEA]

Taxpayers attorney filed SS-4 form and received IRS CP 575 B assingning ID # and
classifing as 1065. Taxpayer is single member LLC. Do i need to file form 8832 to show
LLC is disregarded as a separate entity? It appears that IRS would be looking for the
1065 form in 2008.

Thanks, DixieEA

[ChEAr$]

Taxpayers attorney filed SS-4 form and received IRS CP 575 B assingning ID # and
classifing as 1065. Taxpayer is single member LLC. Do i need to file form 8832 to show
LLC is disregarded as a separate entity? It appears that IRS would be looking for the
1065 form in 2008.

Thanks, DixieEA

As long as client is content with being taxed as a partnership, no 8832 is needed.
It is the default; see 8832 instructions.

HOWever. If he wants to be classified as a corporation( like an S corp), there are still
7 hours and 30 min left to get a postmark on a form 2553.

[DixieEA]

Thanks ChEAr$

Client wants to file sch c, do I need to file any form?

Thanks, DixieEA

[Lion]

Single Member LLC

I had a girl come to me to do her taxes a couple of years ago, brought in her paperwork from a DE company that organizes for you online. They had her set up as a single-member LLC to be taxed as a partnership! Hadn't filed any returns yet. I called IRS, and they changed their records to reflect that her EIN was for a disregarded entity. Kept the same EIN and name. I was sure we'd have to have them cancel her initial registration and had already filled out paperwork for her to register correctly, but the IRS actually did the simple thing to correct the online company's error. She's still with me in CT. She's also still paying $125/year to that DE company to file her annual report in DE. I called the telephone number listed for SS-4 applications. Good luck.

[Bees Knees]

A single member LLC cannot file Form 1065 as a partnership. Period.

Only choices are Schedule C or elect to be taxed as a corporation.

Call IRS and have them straighten it out. The SS-4 was probably screwed up the attorney, which wouldn't be a first....

[DixieEA]

Attorney error

Bees Knees, the attorney filed the SS-4 incorrect. Thank you all for your respones

DixieEA.