We had an LLC taxed as a partnership. The business closed and upon closing, we had a tax liability on the books. We filed our final return with the liability on the books. As you can imagine with the business closing, and as owner not taking a paydraw for the last 6 months, I did not have the means to pay the taxes. Time has passed and the liability has since been passed from the business to my personal liability. We have made payments on the liability in following years so my question is would that have any kind of impact on my personal taxes?
Thanks for your help,
Brand
Thanks for your help,
Brand