if an ss-4 for an llc is filed indicating 2 members but only one becomes an owner and files activity on schedule c of form 1040 is notification to irs required
So as an SMLLC (disregarded entity) with zero employees, the ONLY time I can use the LLC's EIN is to open a bank acct? (Which I already have done.) In the past, I have used it on w9 forms (did not use my SS#) and have received 1099s in the name of the LLC along with its EIN. I have then just included them with my taxes and reported the earnings on my Schedule C. I made sure to include the EIN # and my LLC name on the Sch. C form). Never seemed to be a problem. Will this become a problem for me? Do I have to update all of those w9s going forward for future tax years?
Great video, short and easy to understand, thanks!
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if an ss-4 for an llc is filed indicating 2 members but only one becomes an owner and files activity on schedule c of form 1040 is notification to irs required
So as an SMLLC (disregarded entity) with zero employees, the ONLY time I can use the LLC's EIN is to open a bank acct? (Which I already have done.)
In the past, I have used it on w9 forms (did not use my SS#) and have received 1099s in the name of the LLC along with its EIN. I have then just included them with my taxes and reported the earnings on my Schedule C. I made sure to include the EIN # and my LLC name on the Sch. C form). Never seemed to be a problem. Will this become a problem for me? Do I have to update all of those w9s going forward for future tax years?
Can I still follow the normal process of applying for the EIN as a single member LLC?