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Will a non profit 501(c) (3) started 1-3-2024 with EIN number, do I have to pay LLC e-file of $800 for tax year 2023? Thank you

 
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3 Replies

Will a non profit 501(c) (3) started 1-3-2024 with EIN number, do I have to pay LLC e-file of $800 for tax year 2023? Thank you

You do not put something you did in 2024 on a 2023 income tax return.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

Will a non profit 501(c) (3) started 1-3-2024 with EIN number, do I have to pay LLC e-file of $800 for tax year 2023? Thank you

and in 2024 check with the state, there may be a lower fee if the LLC is properly registered as a non-profit.

 

typically a charity is set up as a corporation. I'm not a lawyer but the LLC probably offers no more personal protection than a corporation may even less. . 

 

Will a non profit 501(c) (3) started 1-3-2024 with EIN number, do I have to pay LLC e-file of $800 for tax year 2023? Thank you

First, there is no version of TurboTax that can prepare a form 990 for non-profit, not even the Business version.  You will need to seek professional assistance.

 

Second, Turbotax does not charge an "e-file" fee of $800 or anything else for LLCs.  LLCs are creations of state law, and the IRS does not recognize an LLC as a separate kind of company.  It files a federal return either as a sole proprietorship, a partnership, or a S- or C-corporation, depending on how it is formed.  

 

You file a tax return for a business whenever that business has started to engage in ongoing business activities (started to operate).  If the business operated in 2023, you need to file a 2023 return even if you did not register as an LLC with the state until 2024.  If the business did not start until 2024, then you first file in 2024.  But as stated, you can;t use Turbotax.

 

Third, if there are state laws about registration fees for LLCs, you have to check with your state for when that fee is required.

 

Fourth, have you been approved as an exempt organization by the IRS, or is that under review, or you didn't apply yet?  That has a major impact on whether you can give tax-deductible status to your donations, and you could be in big trouble if you offer tax deductions before you are registered as an EO.

 

Fifth, see an attorney. I'm not even sure how an LLC can be an EO.  Certainly there are going to be issues with employee salaries, donations, and so on.  

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