• LLC taxed as a sub S corp

    From Taxed and Spent@21:1/5 to All on Fri Oct 1 21:31:13 2021
    Does it need a TIN, or can it continue to use the single member's SSN as
    the LLC had been doing?

    ========================================= MODERATOR'S COMMENT:

    It needs a new TIN

    --
    << ------------------------------------------------------- >>
    << The foregoing was not intended or written to be used, >>
    << nor can it used, for the purpose of avoiding penalties >>
    << that may be imposed upon the taxpayer. >>
    << >>
    << The Charter and the Guidelines for submitting posts >>
    << to this newsgroup as well as our anti-spamming policy >>
    << are at www.asktax.org. >>
    << Copyright (2011) - All rights reserved. >>
    << ------------------------------------------------------- >>

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From Adam H. Kerman@21:1/5 to Taxed and Spent on Wed Oct 6 14:03:29 2021
    Taxed and Spent <nospamplease@nonospam.com> wrote:

    Does it need a TIN, or can it continue to use the single member's SSN as
    the LLC had been doing?

    ========================================= MODERATOR'S COMMENT:

    It needs a new TIN

    You need to file 2553 to elect to be taxed as an S corp. That form
    requires an EIN.

    https://www.irs-ein-tax-id.com/faq/can-llc-elect-s-corporation-taxation/ https://www.irs.gov/businesses/small-businesses-self-employed/do-you-need-a-new-ein

    --
    << ------------------------------------------------------- >>
    << The foregoing was not intended or written to be used, >>
    << nor can it used, for the purpose of avoiding penalties >>
    << that may be imposed upon the taxpayer. >>
    << >>
    << The Charter and the Guidelines for submitting posts >>
    << to this newsgroup as well as our anti-spamming policy >>
    << are at www.asktax.org. >>
    << Copyright (2011) - All rights reserved. >>
    << ------------------------------------------------------- >>

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)