LLC delinquent tax help needed (proprietorship, corporations, pay, accountant)

[gnashes30]

Hi Guys,

Me & a friend of mine registered an LLC in 2007 thinking we'd be doing some freelance work under this entity. Turns out neither of us got an opportunity, so the entity just existed without any earnings, etc.

Last June we got a letter to report taxes which we failed to file based on the understanding that we didn't earn, we don't owe, etc Big mistake, now we got a letter from the IRS with estimated taxes & they require us to file some form along with the said amount, etc by Feb 02.

We've been trying to reach the folks who helped us register the LLC but they haven't responded in the past week.

So I need the following help & would appreciate your feedback

1. Should we just file ourselves the said forms & pay the estimated taxes ?
2. How do we make sure we don't pay the estimated taxes, since we didn't earn anything ? I don't mind any penalties, not reporting was our mistake.
3. We'd like to wrap up this entity & the received document gives some options to that effect, but we don't know if we should use it.

If you are someone who does corporate taxes, we wouldn't mind paying you for your services as long as they are reasonable. We'd prefer an appt sometime after 4:00 pm.

Thanks
Ashish Hareet

[poconoproud]

I would call a tax accountant in your area. We just changed from sole proprietorship to LLC, and our accountant has been very helpful in guiding us. She knows what needs to be filed and when...and helps us by figuring the correct amount to pay...

If the document you have gives an option for ending the entity...maybe you should do that to avoid needing to file any further reports?

sorry i wasn't very helpful.

Filing Requirements for Corporations & LLCs in all 50 States - American Incorporators Ltd.

[Rapture]

I don't know what state you're in but you can call the tax office for your state to help you. I have an LLC and have called them several times when I didn't understand something or made a mistake and they always helped. When you call be sure to ask them what exactly you are obligated to do and how often. Most of everything you have to do can be done online, once you set it up.

You can also call the IRS for help. I've done that too! Good luck.