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Level 2

Question

WI Multimember LLC

Forum|Forum|4 years ago
February 12, 2022
1 reply
0 views

If my husband opened a LLC in 2021 with no activity other than establishing a Federal EIN number, do we have to fill out the 1065 Form?

LLC

Level 13

No based on the following in the 1065 instructions

Except as provided below, every domestic partnership must file Form 1065, unless it neither receives income nor incurs any expenditures treated as deductions or credits for federal income tax purposes.

*A reminder that posts in a forum such as this do not constitute tax advice.Also keep in mind the date of replies, as tax law changes.

Level 2

Sounds good 👍. If the EIN exists, does anyone know how the IRS differentiates between a LLC that did not exist other than having a tax ID number versus thinking we forgot to file and therefore incurring late fees? Thank you kindly!

Level 13

The IRS has their ways, however, if they told you, they would ............... 😂

*A reminder that posts in a forum such as this do not constitute tax advice.Also keep in mind the date of replies, as tax law changes.