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Extending tax time and what form to use to file for an LLC

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slasher
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Extending tax time and what form to use to file for an LLC  Reply with quote  

Does anyone know which form you file for extending tax filing date for an LLC? Also which form do you fill out for an LLC with only a single member?
Post Mon Apr 15, 2013 2:37 pm
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soybean
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Single-member LLCs report on Schedule C (which is attached to Form 1040) , as a sole proprietor, unless they elect to be taxed as a corporation. If you have not/are not electing to be taxed as a corporation, then the extension for your individual income tax return should be sufficient.

Reference: http://biztaxlaw.about.com/od/taxesonbusinesstypes/a/llctaxation.htm

Another reference on LLCs: http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Limited-Liability-Company-(LLC)

By the way, better hurry and file the extension; today is the 15th. You can file the extension online; at this point, that's probably your only option for filing it on time.
Post Tue Apr 16, 2013 1:17 am
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coaster
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And remember, if you owe money, it's due today, period. The extension only gives you more time to file, it does not move the payment due date. You will start accruing interest on the tax due as of today. There may or may not be a penalty; penalties are waived if you show reasonable cause.

Of course, if you're expecting a refund, none of the above applies. You actually don't even need to file an extension if you're expecting a refund, since they already have their money.

~Tim~
Post Tue Apr 16, 2013 2:27 am
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slasher
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Yeah I am expecting a refund so I let it pass without even filing for the extension. I gotta get on this! Thanks for the advice guys!
Post Sun Apr 21, 2013 6:35 pm
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