- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
I apologize for the confusion, as I'm trying to make sense of the situation myself. My accountant filed my personal taxes in March, but for some reason, they didn’t guide me properly regarding our multi-member LLC (with two members). It's a very small business with practically no profit. I didn’t request an extension, and I was waiting for my partner to file the LLC taxes. Unfortunately, we ended up missing the deadline.
To make matters worse, my original accountant disappeared (their business was closed by the IRS), so we hired a new accountant for the LLC. That’s when we discovered we should have filed the LLC taxes along with our personal returns. Now, I’m trying to figure out the best and least expensive way to handle this situation, especially with the potential $2,000 penalty being mentioned. I'm shocked and unsure of what to do.