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sezzo35
Returning Member

About tax - Partnership, Single Member, EIN, ITIN

I set up a company in America from abroad. My company appears on the forms as "PARTNERSHIP," but originally I was the sole owner of the company, I had no company partner, I never had one. This was accidentally marked like this. My EIN form says 3.15.2020 Form 1065. I haven't made a tax statement yet.
1- Do I have to get a new EIN?
2- How do I turn a" PARTNERSHIP " situation into a single partnership? I have no idea how to make a tax return.
3- Does the deferred tax declaration for July 15 apply to me?
4- I'm also a foreigner, they said I have to fill out another form for a foreign tax return. Can you give information on this subject?
5- Can I also apply for an ITIN with a tax declaration? If yes, how can I do this? Can you help me?

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3 Replies
pk
Level 15
Level 15

About tax - Partnership, Single Member, EIN, ITIN

@sezzo35  assuming that you have set up an entity as a partnership under US laws ( entities  are usually  formed  under state laws -- so which State?  Delaware ? )  To change your entity type you would need to contact that state  to advise on how to achieve that.

(a) The EIN   ( Employer Identification Number ) is attached to the entity and not to the type of entity-- it is a number used  to identify the entity and among other things to  credit the tax deposits  of employees.    

(b) To change the entity from partnership to sole proprietor, you need to talk to the State  under whose laws it was formed  ( see above )

(c)  Your current  entity type ( you need to correct this ASAP ) requires you to file two  returns -- a business  returns at entity level  ( the date  is as shown  in your EIN application -- 03/15 /XXXX .   Then there is  individual  return  on form 1040-NR ( NOT supported by TurboTax -- See SprinTax or a tax professional ) covering your  US sourced income and a flat 30% tax.  

(d) Yes to file a  tax return as a  Non-Resident Alien, you may need  ITIN.

 

VERY STRONGLY suggest that you see a  US Tax professional  , familiar with international filing -- at least for this first year  you should not do it by yourself-- tax laws for  NRA ( Non _resident Aliens ) are complicated and often impacted by  Tax treaty between your country and USA.

sezzo35
Returning Member

About tax - Partnership, Single Member, EIN, ITIN

If I want to do this process myself, Can you tell me the path I need to follow ? I want to know what needs to be done in this process, what forms need to be filled out. Taking ITIN, turning Ein into sole owner, making foreign partner notification etc. Thank you for taking the time.

pk
Level 15
Level 15

About tax - Partnership, Single Member, EIN, ITIN

@sezzo35 , I am going to ask one of the  TurboTax employee tax experts  to walk you through this --- I am a  retired tax [professional and not  an expert on business  laws --- @KarenJ2   can you help here , please -- tks

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