I own an LLC and filed the 8832 form to be taxed as an S-Corp. How do I know if the IRS received it and it was approved.
Kenneth's answer
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Answered on June 19, 2016
8832 is the wrong form for making an S election. You need to see a tax attorney about getting the correct form (2553) filed to make the S election....
Archived
How do I transfer an EIN to a new business?
Kenneth's answer
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Answered on June 17, 2016
You can't transfer an EIN from one entity to another, you will have to file an SS4 to get a new EIN for the new entity.
Archived
What documentation do I need to get my kids social security numbers
Kenneth's answer
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Answered on June 17, 2016
This site should answer the question: https://www.ssa.gov/ssnumber/ss5doc.htm
Archived
Dual citizenship and overseas money transfer
Kenneth's answer
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Answered on June 17, 2016
As a US citizen, you will be liable for taxes in the US on worldwide income. you should retain a good, reliable CPA or tax attorney who can advise...
Archived
On Employer's payroll are refunds and bonuses added income? And should added to the employees W 2 for taxes for that yea
Kenneth's answer
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Answered on June 17, 2016
I would second the advice to speak to your employer first and see what is going on. If that doesn't work, take your information to a CPA or tax...
Archived
What is the best way to sell my house to my daughter
Kenneth's answer
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Answered on June 17, 2016
You'll need to speak with a tax/real estate attorney. There are a number of options, but all have consequences. For example, you could gift the...
Archived
What are my chances of being audited?
Kenneth's answer
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Answered on June 17, 2016
First, don't panic. For tax purposes and for business operation purposes, I would work on reconstructing as much as you can. Download invoices and...
Am I obligated to provide my W2 to my spouse??
Kenneth's answer
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Answered on June 17, 2016
Not really a tax question, you will get better answers by asking a family law or divorce attorney. There aren't any tax issues here, but there may...
Archived
Do I need a FIRPTA no withholding certificate to transfer my real estate?
Kenneth's answer
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Answered on June 17, 2016
Yes, you have a FIRPTA issue. It sounds like you are taking legal advice from a non-lawyer closing agent, which is a bad idea. You should hire a...
Archived
How long does it take to set up a 501c3? What times of information is needed and what is the cost for this?
Kenneth's answer
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Answered on June 17, 2016
It takes anywhere from 60 days to 1 year to set up and depends on how fast the IRS processes the application as well as any questions they have...
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