Tax Bill for LLC

[CLenseth]

I live in NYS, my husband started an Sole proprietor LLC, I have no part in this business.  We filed jointly in 2022 i have a normal job in a company.  He chose to not pay taxes quarterly, did not save money for taxes this year and we have a huge bill.  Who's responsibility does this bill fall under? Is it the LLC?

[Critter-3]

When you choose to file a JOINT return then you are BOTH responsible for the tax bill on that return and the IRS can & will bill you both for the debt until it is paid in full.   Tell him to pony up the money.  Next year consider filing separately if they cannot get their act together. 

[rjs]

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@CLenseth wrote:

Who's responsibility does this bill fall under? Is it the LLC?

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As far as federal income tax is concerned, the LLC does not exist. It's called a "disregarded entity." The LLC and your husband are one and the same. So the LLC has no responsibility for anything independent of your husband.

Since you filed jointly, you are both equally responsible for the tax. You were also both responsible for paying quarterly estimated tax during the year. If you had filed as married filing separately, only your husband would be responsible for the tax on his separate tax return, but the two of you together would owe even more tax. It's too late to change the joint return that you already filed to separate returns.

[Mike9241]

if 2023 will be anything like 2022, now is the time to start paying estimated taxes. here are the most important rules:

There will be no federal penalties for not paying in enough taxes during the year if withholding and

1. timely estimated tax payments equal or exceed 90% of your 2023 tax or
2. timely estimated tax payments equal or exceed 100% of your 2022 tax (110% if your adjusted gross income was more than $150K) 

depending on which rule is used for 2023 - 1/4 of the tax must be paid in each quarter 4/15, 6/15,9/15, 1/15/2024. too late for the first quarter so 50% would need to be paid in by 6/15.

normally 1/4 of any taxes withheld are deemed to be paid each quarter, but there is n option to use actul amounts.

if you have state income taxes its rules may be different.