May 22, 2008

Q & A: Tax Return Extensions

QUESTION: I know a single member LLC does not have to file a separate tax return. If I'm filing an extension, do I need to file a separate extension for my single member LLC or just the individual tax return extension?

ANSWER: Single member LLC's normally file tax returns by using Schedule C as part of the Form 1040 package. Non single member LLC's use Form 1065, U.S. Return of Partnership Income.

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