USA Two quick questions related to Single Member Tennessee LLC Taxed as a C-Corporation

Joined
Apr 15, 2019
Messages
5
Reaction score
0
Country
United States
1. My LLC was formed in December of 2018. It's currently taxed as a C-corporation. We're using a Fiscal Year End of September 30th for tax purposes.

Note: This is where I'm really confused. No article has been able to explain this succinctly:

What is my fiscal year allowed to be legally?


Would it be December 2018-September 30th, 2019 and then just Sep 30th, 2019 to September 30th, 2020 and so on and so forth (September 30th, 2020 to September 30th, 2021)?

2. When is my federal tax return due?

Correct me if I'm wrong, but it would just be the 15th day of the 4th month following my fiscal year end so 1/15/2020?
 
Joined
Aug 22, 2019
Messages
1
Reaction score
0
Country
United States
You must fill out form 1128 to request a change in tax year for a C corporation. The IRS requires you ask for a "Ruling Request" on this form as part of its criteria to approve a fiscal year change. Mail your completed form 1128 to the National IRS office at: Internal Revenue Service Associate Chief Counsel, PO Box 7604, Ben Franklin Station, Washington, D.C., 20044-7604. Ask for a ruling request if you are not eligible for automatic approval. Attach form 1128 to your amended return. if approved your first tax year would be December 2018-September 30th, 2019

yes its the 15th day of the 4th month.
 

Ask a Question

Want to reply to this thread or ask your own question?

You'll need to choose a username for the site, which only take a couple of moments. After that, you can post your question and our members will help you out.

Ask a Question

Members online

No members online now.

Forum statistics

Threads
11,756
Messages
27,803
Members
21,756
Latest member
Kangwa10

Latest Threads

Top