Lisa K. asked
My husband and I are the only members of an LLC with zero income, and we file joint personal returns. The LLC was filed under Schedule C on our personal returns. However, the IRS penalized the LLC for not filing a 1065 despite no income. Does the LLC fall under the 'disregarded entity' tax rules?
June 6th, 2024
Brandon W. answered
The IRS is correct; an LLC with more than one member cannot be treated as a disregarded entity under...
June 6th, 2024
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