Hi my client (an LLC taxed as a partnership) is a 67% owner of a foreign partnership. We file a Form 8865 for the FP.
I just was made aware that the FP should have the same year end as it's majority owner (which is a calendar year).
We have been filing like this for 8 years and I am not aware of getting any approval from the IRS.
Does anyone know how we would correct this?
Thanks for any guidance at all.
I just was made aware that the FP should have the same year end as it's majority owner (which is a calendar year).
We have been filing like this for 8 years and I am not aware of getting any approval from the IRS.
Does anyone know how we would correct this?
Thanks for any guidance at all.