Bart Posted March 27, 2009 Report Posted March 27, 2009 IF a SMLLC (Sch C) takes on a partner (1065), does it have to get a new FEIN? Quote
joans Posted March 27, 2009 Report Posted March 27, 2009 Sorry to say - but yes they will need new fed ID #. I actually had a client that went to an LLC and nothing else changed and the IRS assigned her a new federal ID # automatically and messed a bunch of reports for us:( Good luck with everything. Sra Quote
mcb39 Posted March 27, 2009 Report Posted March 27, 2009 IF a SMLLC (Sch C) takes on a partner (1065), does it have to get a new FEIN? I believe so! Number to call is 1-800-829-4933 Quote
RitaB Posted March 27, 2009 Report Posted March 27, 2009 Yeah, the ladies are correct. And, best of all, just when you get everything under control, the new partner will take a hike. I really hate joint ventures. I mean, if half of marriages end in divorce, and both parties knew it would last forever, good luck going into business with someone that you may not even like a lot... Also, be prepared for the whining, "Why can't we pay ourselves payroll? The lawyer said we could." Sorry, that was all completely uncalled for, I know. Just venting a little. Quote
Bart Posted March 27, 2009 Author Report Posted March 27, 2009 I believe so! Number to call is 1-800-829-4933 That is the number I called and she said I did not have to apply for a new number but I did have to file an 8832. Quote
RitaB Posted March 27, 2009 Report Posted March 27, 2009 That is the number I called and she said I did not have to apply for a new number but I did have to file an 8832. She is impersonating someone who knows. If you go from Sch C to Form 1065, you'd have to have a new number. Look at instructions for SS-4, bottom of p. 4 - top of p. 5: http://www.irs.gov/pub/irs-pdf/iss4.pdf Also, Form 8832 applies if they want to be taxed as a Corp. I don't recommend that. Or, even forming a partnership, as ya'll know... Edit: Also, you can apply for the number online at irs.gov. You need to have client sign the SS-4 authorizing you to apply. Quote
mcb39 Posted March 28, 2009 Report Posted March 28, 2009 I just got mine last week at irs.gov. The whole thing took less than 20 minutes.....They gave me the number immediately. Quote
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.