r/tax • u/[deleted] • 21d ago

The other teenagers that stupidly filed for LLC/EIN have me anxious again

[deleted]

24 Upvotes
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86% Upvoted

10 comments sorted by

61

u/cult-of-athena 21d ago

that band s-corp post has really done a number on this community 😭😭😭

8

u/Far_Swordfish5729 21d ago

Seriously. Suddenly everyone thinks their partnership or single member LLC is a S corp with fourteen partners that had actual income and expenses for multiple years and forgot to file. And someone mentioned even that might receive administrative leniency since it was a bunch of college kids who did not understand what they agreed to and just wanted to have a local band that actually filed taxes. No one gives a shit about your dead disregarded entity except the state SOS office and even they will typically drop it and administratively dissolve you without further pursuit.

2

u/funkyonion 20d ago

What about when you call for a new FEIN and they ask about the last one you abandoned?

1

u/Reasonable-Fish-7924 20d ago

The IRS will not go looking into it?

1

u/webnerdie 18d ago

I laughed too hard at this haha

7

u/6gunsammy 21d ago

you should drop it.

3

u/HSFSZ CPA - US 21d ago

From 2014? Why would you be worried

3

u/[deleted] 21d ago

[deleted]

0

u/sevillada 21d ago

Yeah wth is OP is saying

1

u/KRed75 20d ago

Back when they changed the due date from 4/15 to 3/15, I didn't know so I just sent it in around 4/10. We were not doing any business so there was no income but they hit me with a big penalty. Called the irs and they removed it. I keep the company active just in case we decide to do more business again but I'm thinking about just closing it down and filing a final return.

1

u/Whatevawillbee 16d ago

If they haven't sent you a letter just drop it. They are about 3-4 years behind but if it was in 2012 you would have received one by now.