File your Taxes for Free!
  • Get your maximum refund*
  • 100% accurate calculations guaranteed*

TurboTax Federal Free Edition - File Taxes Online

Don't let filing your taxes get you down! We'll help make it as easy as possible. With e-file and direct deposit, there's no faster way to get your refund!

Approved TurboTax Affiliate Site. TurboTax and TurboTax Online, among others, are registered trademarks and/or service marks of Intuit Inc. in the United States and other countries. Other parties' trademarks or service marks are the property of the respective owners.


© 2012 - 2018 All rights reserved.

This is an Approved TurboTax Affiliate site. TurboTax and TurboTax Online, among other are registered trademarks and/or service marks of Intuit, Inc. in the United States and other countries. Other parties' trademarks or service marks are the property of the respective owners.
When discussing "Free e-file", note that state e-file is an additional fee. E-file fees do not apply to New York state returns. Prices are subject to change without notice. E-file and get your refund faster
*If you pay an IRS or state penalty or interest because of a TurboTax calculations error, we'll pay you the penalty and interest.
*Maximum Refund Guarantee - or Your Money Back: If you get a larger refund or smaller tax due from another tax preparation method, we'll refund the applicable TurboTax federal and/or state purchase price paid. TurboTax Federal Free Edition customers are entitled to payment of $14.99 and a refund of your state purchase price paid. Claims must be submitted within sixty (60) days of your TurboTax filing date and no later than 6/15/14. E-file, Audit Defense, Professional Review, Refund Transfer and technical support fees are excluded. This guarantee cannot be combined with the TurboTax Satisfaction (Easy) Guarantee. *We're so confident your return will be done right, we guarantee it. Accurate calculations guaranteed. If you pay an IRS or state penalty or interest because of a TurboTax calculations error, we'll pay you the penalty and interest.
https://turbotax.intuit.com/corp/guarantees.jsp

Do My 2007 Taxes Online

2010 Tax Form 1040Order 2012 Tax Forms From IrsTurbotax For Military Members FreeWhere Can I File My Federal And State Taxes For FreeState Tax Filing For FreeTax Planning Us 1040ezFree State Taxes Online FilingWhere Can I File 2012 TaxesFree File State Tax OnlyEfile ComFiling Tax AmendmentFree H And R BlockAmend Tax Return 20111040nr FreeIrs Ez File1040xIrs Gov Free FileWhere Can You File State Taxes For FreeWww StatetaxformsAmend 2011 TaxesForm 1040x Fillable10402005 TaxesFile Ez OnlineUnemployment And TaxesHow To Fill Out 1040x Line By LineHow To Do An Amendment On My Tax ReturnMichigan 1040ez 2013How To Efile 2011 TaxesTurbo Tax Amended ReturnFile 2010 Tax Return OnlineForms 1040 Es1040 Ez E File1040 Es Payment VoucherEz Form 20101014 Ez Form1040 Ez OnlineHow To Fill Out A 1040x Tax Amendment FormTaxact LoginIrs Form 1040 2011

Do My 2007 Taxes Online

Do my 2007 taxes online Publication 850 (EN/SP) - Introductory Material Table of Contents Introduction Introduction This glossary is developed by the Tax Forms and Publications Division of the Internal Revenue Service, in consultation with the Translation Commission of the North American Academy of the Spanish Language (Comisión de Traducciones de la Academia Norteamericana de la Lengua Española) and with the Graduate Program in Translation of the University of Puerto Rico (Programa Graduado en Traducción de la Universidad de Puerto Rico). Do my 2007 taxes online Its purpose is to establish high standards for the quality of language usage, to promote uniformity in language usage, and to minimize the risk of misinterpretation of Spanish-language materials issued by the Service. Do my 2007 taxes online To meet the needs of the largest segment of taxpayers whose primary language is Spanish, the Service has issued certain Spanish-language materials. Do my 2007 taxes online Problems arise, however, because there is some variation in tax terminology used in Spanish-speaking countries. Do my 2007 taxes online Also, invention and compromise are involved in selecting words and phrases to describe certain tax concepts that have no precise equivalent in the Spanish language or legal tradition. Do my 2007 taxes online To help resolve these problems, a group of United States, Spanish, and Spanish-American academicians, professors, lawyers, accountants, translators, and tax law specialists developed this glossary. Do my 2007 taxes online Their long and varied experience with the tax systems in their own, and other countries, gives assurance of reliability. Do my 2007 taxes online The criteria used for words in this glossary are: consistency of usage with other governmental agencies, Spanish writing style for the tax forms and publications, and words relating to Accounting, Economics, Finance, Law, Technology and its related fields. Do my 2007 taxes online Any issuance containing language consistent with this glossary should be reasonably satisfactory for purposes of general guidance regarding the rights and obligations of taxpayers. Do my 2007 taxes online It is not intended, however, that any term in this glossary should be understood to change the meaning of any provisions of law, regulations, or any other authoritative precedent. Do my 2007 taxes online A periodic review is made to determine whether any additions, deletions, or revisions are needed. Do my 2007 taxes online Some of the terms listed are identified by the abbreviation “P. Do my 2007 taxes online R. Do my 2007 taxes online ” These terms are for use in tax forms and publications intended for circulation exclusively in Puerto Rico. Do my 2007 taxes online Users are invited to send their comments to: Internal Revenue Service Virtual Translation Office SE:W:CAR:MP:T:LS:VTO 1111 Constitution Ave. Do my 2007 taxes online , N. Do my 2007 taxes online W. Do my 2007 taxes online , IR-6102 Washington, DC 20224 or electronically to: vto@irs. Do my 2007 taxes online gov Prev  Up  Next   Home   More Online Publications
Print - Click this link to Print this page

Disaster Assistance and Emergency Relief for Individuals and Businesses

Overview

Special tax law provisions may help taxpayers and businesses recover financially from the impact of a disaster, especially when the federal government declares their location to be a major disaster area. Depending on the circumstances, the IRS may grant additional time to file returns and pay taxes. Both individuals and businesses in a federally declared disaster area can get a faster refund by claiming losses related to the disaster on the tax return for the previous year, usually by filing an amended return.

The IRS also offers audio presentations on Planning for Disaster. These presentations discuss business continuity planning, insurance coverage, recording keeping and other tips to stay in business after a major disaster.

Get the Latest Tax Relief Guidance in Disaster Situations
Recent special tax law provisions may help taxpayers recover financially from the impact of a major disaster in their location.

Preparing for Disasters
Are your home and/or business ready if a disaster strikes? Get information and suggestions on paperless recordkeeping, documenting assets and valuables, and emergency planning.

Help for Disaster Victims
This podcast provides information on what to do and who to contact if you have been affected by a disaster this year.

Help During Disasters
We know that major disasters and emergencies in your area will affect many families and businesses. While we hope you are spared any loss, we realize this may not be true for everyone, and we want to let you know how the IRS can help.

Around the Nation
This section of our Web site provides IRS news specific to local areas, primarily disaster relief or tax provisions that affect certain states.

Tax Topic 515 - Casualty, Disaster, and Theft Losses
Casualty losses can result from the destruction of or damage to your property from any sudden, unexpected, and unusual event such as a flood, hurricane, tornado, fire, earthquake or even volcanic eruption.

Disaster Assistance Self-Study
The Disaster Assistance Self-Study provides the basic information needed to assist taxpayers in a disaster. It provides the volunteer practitioner disaster representative member with information on distributing Disaster Kits, computing gains/losses as the result of a disaster, information about administrative tax relief and information about the psychological effects of a disaster on its victims.

For Individuals

FAQs for Disaster Victims
This section provides current information on disaster relief and frequently asked questions. The Hurricane Katrina FAQs are now listed separately from the general FAQs, which are applicable to any disaster.

Gulf Oil Spill: Questions and Answers
The existing law dictates whether payments received from BP for losses, damage and injuries are taxable. Refer to the Gulf Oil Spill technical questions and answers for more information.

Reconstructing Your Records
Reconstructing records after a disaster may be essential for tax purposes, getting federal assistance or insurance reimbursement. Records that you need to prove your loss may have been damaged or destroyed in a casualty. While it may not be easy, reconstructing your records may be essential.

Publication 2194, Disaster Resource Guide for Individuals and Businesses (PDF)
Publication 2194 is a Disaster Losses Kit to help individuals claim casualty losses on property that was destroyed by a natural disaster. The kit contains tax forms needed to claim a casualty loss. It also answers common questions like how to extend the time you need to file, how you can receive free tax services and how to identify which disaster losses to claim.

Help for Hurricane Victims: Information on Tax Relief, Charitable Issues
The Internal Revenue Service is working to provide appropriate relief and assistance to victims of Hurricanes Katrina, Rita and Wilma.

For Businesses

Publication 2194, Disaster Resource Guide for Individuals and Businesses (PDF)
Publication 2194 is a Disaster Losses Kit to help businesses claim casualty losses on property that has been destroyed by a natural disaster. The kit contains tax forms needed to claim a casualty loss.

Crop Insurance and Crop Disaster Payments - Agriculture Tax Tips
This section offers helpful tax tips including whether crop insurance and crop disaster payments are taxable.

Disaster Planning Video Presentations:

For Tax Professionals

Disaster Relief Resource Center for Tax Professionals
Through this resource center we address many of the questions received from tax professionals. We've included information published by the IRS, along with links to IRS partners who may offer additional assistance. Many of our partners have developed Web pages that highlight the efforts they've made to help their fellow practitioners to recover and get re-established.

For Charitable Organizations

Disaster Relief - Resources for Charities and Contributors
After a disaster or in another emergency hardship situation, people may be interested in using a charitable organization to help victims. The IRS provides a number of resources to help them accomplish this goal.

Publication 3833, Disaster Relief, Providing Assistance Through Charitable Organizations (PDF)
This publication describes how members of the public can use charitable organizations to provide assistance to victims of disasters or other emergency hardship situations.

Talk With the IRS

Contact My Local Office
IRS Taxpayer Assistance Centers are your one-stop resource for face-to-face tax help and solutions to tax problems, every business day.

Taxpayer Advocate Service
The Taxpayer Advocate is an independent organization within the IRS. They help taxpayers resolve problems with the IRS and recommend changes that will prevent the problems.

Other Government Agency Disaster Information

DisasterAssistance.gov
This is a one stop web portal that consolidates information from 17 US Government Agencies where taxpayers can apply for Small Business Administration loans through online applications, receive referral information on forms of assistance that do not have online applications, or check the progress and status of their applications online.

Federal Emergency Management Agency (FEMA)
Federal disaster aid programs provided by the Federal Emergency Management Agency (FEMA) are available to citizens affected by major disasters.

Small Business Administration (SBA)
The U. S. Small Business Administration (SBA) is responsible for providing affordable, timely and accessible financial assistance to homeowners, renters and businesses of all sizes located in a declared disaster area. Financial assistance is available in the form of low-interest, long-term loans for losses that are not fully covered by insurance or other recoveries.

READY.gov
Learn how individuals and business can prepare for and respond to all kinds of disasters and emergencies.

GovBenefits.gov
GovBenefits.gov wants to let survivors and disaster relief workers know about the many disaster relief programs available. Perhaps you have suffered damage to a home or business, lost your job, or experienced crop damage due to a natural disaster. GovBenefits.gov has a variety of national benefit and assistance programs geared toward disaster recovery

IRS Forms and Publications

Publication 547 – Casualties, Disasters and Thefts
Publication 547 explains how to treat casualties, thefts, and losses on deposits. It discusses definitions, how to figure gain or loss, how to treat reimbursements, and how to report them.

Form 1040X (PDF).

Publication 584 (PDF). Also available in HTML.

Publication 584B (PDF). Also available in HTML.

Publication 2194 (PDF).

Publication 3067 (EN/SP) (PDF).

Publication 3067 (EN/CN) (PDF)

Publication 3067 (EN/DE) (PDF)

Publication 3067 (EN/KR) (PDF)

Publication 3067 (EN/RU) (PDF)

Publication 3067 (EN/VN) (PDF)

Publication 3833 (PDF).

Page Last Reviewed or Updated: 21-Jan-2014

The Do My 2007 Taxes Online

Do my 2007 taxes online Publication 3402 - Main Content Table of Contents What is a Limited Liability Company? Classification of an LLC LLCs Classified as Partnerships LLCs Classified as Disregarded Entities LLCs Classified as Corporations Subsequent Elections How To Get More InformationInternal Revenue Service Small Business Administration Other Federal Agencies What is a Limited Liability Company? For purposes of this publication, a limited liability company (LLC) is a business entity organized in the United States under state law. Do my 2007 taxes online Unlike a partnership, all of the members of an LLC have limited personal liability for its debts. Do my 2007 taxes online An LLC may be classified for federal income tax purposes as a partnership, corporation, or an entity disregarded as separate from its owner by applying the rules in Regulations section 301. Do my 2007 taxes online 7701-3. Do my 2007 taxes online The information in this publication applies to LLCs in general, and different rules may apply to special situations, including banks, insurance companies, or nonprofit organizations that are LLCs or that own LLCs. Do my 2007 taxes online Check your state's requirements and the federal tax regulations for further information. Do my 2007 taxes online Classification of an LLC Default classification rules. Do my 2007 taxes online   An LLC with at least two members is classified as a partnership for federal income tax purposes. Do my 2007 taxes online An LLC with only one member is treated as an entity disregarded as separate from its owner for income tax purposes (but as a separate entity for purposes of employment tax and certain excise taxes). Do my 2007 taxes online Also, an LLC's federal tax classification can subsequently change under certain default rules discussed later. Do my 2007 taxes online Elected classification. Do my 2007 taxes online   If an LLC does not choose to be classified under the above default classifications, it can elect to be classified as an association taxable as a corporation or as an S corporation. Do my 2007 taxes online After an LLC has determined its federal tax classification, it can later elect to change that classification. Do my 2007 taxes online For details, see Subsequent Elections, later. Do my 2007 taxes online LLCs Classified as Partnerships If an LLC has at least two members and is classified as a partnership, it generally must file Form 1065, U. Do my 2007 taxes online S. Do my 2007 taxes online Return of Partnership Income. Do my 2007 taxes online Generally, an LLC classified as a partnership is subject to the same filing and reporting requirements as partnerships. Do my 2007 taxes online For certain purposes, members of an LLC are treated as limited partners in a limited partnership. Do my 2007 taxes online For example, LLC members are treated as limited partners for purposes of material participation under the passive activity limitation rules (see Temporary Regulation section 1. Do my 2007 taxes online 469-5T(e)). Do my 2007 taxes online See the Instructions for Form 1065 for reporting rules that apply specifically to LLCs. Do my 2007 taxes online Member manager. Do my 2007 taxes online   Only a member manager of an LLC can sign the partnership tax return. Do my 2007 taxes online And only a member manager can represent the LLC as the tax matters partner under the consolidated audit proceedings in sections 6221 through 6234. Do my 2007 taxes online A member manager is any owner of an interest in the LLC who, alone or together with others, has the continuing authority to make the management decisions necessary to conduct the business for which the LLC was formed. Do my 2007 taxes online If there are no elected or designated member managers, each owner is treated as a member manager. Do my 2007 taxes online Change in default classification. Do my 2007 taxes online   If the number of members in an LLC classified as a partnership is reduced to only one member, it becomes an entity disregarded as separate from its owner under Regulations section 301. Do my 2007 taxes online 7701-3(f)(2). Do my 2007 taxes online However, if the LLC has made an election to be classified as a corporation (discussed later) and that elective classification is in effect at the time of the change in membership, the default classification as a disregarded entity will not apply. Do my 2007 taxes online   Other tax consequences of a change in membership, such as recognition of gain or loss, are determined by the transactions through which an interest in the LLC is acquired or disposed of. Do my 2007 taxes online If a partnership that becomes a disregarded entity as a result of a decrease in the number of members makes an election to be classified as a corporation, the applicable deemed transactions discussed under Subsequent Elections, later, apply. Do my 2007 taxes online Example 1. Do my 2007 taxes online Ethel and Francis are members of an LLC classified as a partnership for federal tax purposes. Do my 2007 taxes online Each holds an equal membership interest. Do my 2007 taxes online The LLC does not hold any unrealized receivables or substantially appreciated inventory. Do my 2007 taxes online Ethel sells her entire interest in the LLC to Francis for $10,000. Do my 2007 taxes online After the sale, the business is continued by the LLC, which is owned solely by Francis. Do my 2007 taxes online No entity classification election is made after the sale to treat the LLC as a corporation for federal tax purposes. Do my 2007 taxes online The partnership terminates when Francis buys Ethel's entire interest. Do my 2007 taxes online Ethel must treat the transaction as the sale of a partnership interest and must report gain or loss, if any, resulting from the sale of her partnership interest. Do my 2007 taxes online For purposes of determining the tax treatment of Francis, the partnership is deemed to make a liquidating distribution of all of its assets to Ethel and Francis, and after this distribution, Francis is treated as acquiring the assets deemed to have been distributed to Ethel in liquidation of Ethel's partnership interest. Do my 2007 taxes online Francis's basis in the assets attributable to Ethel's one-half interest in the partnership is $10,000, the purchase price for Ethel's partnership interest. Do my 2007 taxes online Upon the termination of the partnership, Francis is considered to receive a distribution of those assets attributable to Francis's former interest in the partnership. Do my 2007 taxes online Francis must recognize gain or loss, if any, on the deemed distribution of the assets to the extent required by Internal Revenue Code section 731(a). Do my 2007 taxes online See Partnership Distributions in Publication 541. Do my 2007 taxes online Example 2. Do my 2007 taxes online George and Henrietta are members of an LLC classified as a partnership for federal tax purposes. Do my 2007 taxes online Each holds an equal membership interest. Do my 2007 taxes online The LLC does not hold any unrealized receivables or substantially appreciated inventory. Do my 2007 taxes online George and Henrietta each sell their entire interests in the LLC to Ian, an unrelated person, in exchange for $10,000. Do my 2007 taxes online After the sale, the business is continued by the LLC, which is owned solely by Ian. Do my 2007 taxes online No entity classification election is made after the sale to treat the LLC as a corporation for federal tax purposes. Do my 2007 taxes online The partnership terminates when Ian purchases the entire interests of George and Henrietta in the LLC. Do my 2007 taxes online George and Henrietta must report gain or loss, if any, resulting from the sale of their partnership interests. Do my 2007 taxes online For purposes of classifying the acquisition by Ian, the partnership is deemed to make a liquidating distribution of its assets to George and Henrietta. Do my 2007 taxes online Immediately following this distribution, Ian is deemed to acquire, by purchase, all of the former partnership's assets. Do my 2007 taxes online   For more details on the preceding two examples, see Revenue Ruling 99-6, 1999-6 I. Do my 2007 taxes online R. Do my 2007 taxes online B. Do my 2007 taxes online 6. Do my 2007 taxes online You can find Revenue Ruling 99-6 at www. Do my 2007 taxes online irs. Do my 2007 taxes online gov/pub/irs-irbs/irb99-06. Do my 2007 taxes online pdf. Do my 2007 taxes online LLCs Classified as Disregarded Entities If an LLC has only one member and is classified as an entity disregarded as separate from its owner, its income, deductions, gains, losses, and credits are reported on the owner's income tax return. Do my 2007 taxes online For example, if the owner of the LLC is an individual, the LLC's income and expenses would be reported on the following schedules filed with the owner's Form 1040: Schedule C, Profit or Loss from Business (Sole Proprietorship); Schedule C-EZ, Net Profit From Business (Sole Proprietorship); Schedule E, Supplemental Income and Loss; or Schedule F, Profit or Loss From Farming. Do my 2007 taxes online Employment tax and certain excise taxes. Do my 2007 taxes online   A single-member LLC that is classified as a disregarded entity for income tax purposes is treated as a separate entity for purposes of employment tax and certain excise taxes. Do my 2007 taxes online For wages paid after January 1, 2009, the single-member LLC is required to use its name and employer identification number (EIN) for reporting and payment of employment taxes. Do my 2007 taxes online A single-member LLC is also required to use its name and EIN to register for excise tax activities on Form 637; pay and report excise taxes reported on Forms 720, 730, 2290, and 11-C; and claim any refunds, credits, and payments on Form 8849. Do my 2007 taxes online See the employment and excise tax returns for more information. Do my 2007 taxes online Self-employment tax rule for disregarded entity LLCs. Do my 2007 taxes online   An individual owner of a single-member LLC classified as a disregarded entity is not an employee of the LLC. Do my 2007 taxes online Instead, the owner is subject to tax on the net earnings from self-employment of the LLC which is treated in the same manner as a sole-proprietorship. Do my 2007 taxes online Example 3. Do my 2007 taxes online LLC is a disregarded entity owned by Irene. Do my 2007 taxes online LLC has three employees (Kent, Patricia, and Tex) and pays wages. Do my 2007 taxes online LLC is treated as an entity separate from its owner for purposes of employment taxes. Do my 2007 taxes online For the wages paid to Kent, Patricia, and Tex, LLC is liable for income tax withholding, Federal Insurance Contributions Act (FICA) taxes, and Federal Unemployment Tax Act (FUTA) taxes. Do my 2007 taxes online In addition, LLC must file under its name and EIN the applicable employment tax returns; make timely employment tax deposits; and file with the Social Security Administration and furnish to LLC's employees (Kent, Patricia, and Tex) Forms W-2, Wage and Tax Statement. Do my 2007 taxes online Irene is self-employed for purposes of the self-employment tax. Do my 2007 taxes online Thus, Irene is subject to self-employment tax on her net earnings from self-employment with respect to LLC's activities. Do my 2007 taxes online Irene is not an employee of LLC for purposes of employment taxes. Do my 2007 taxes online Because LLC is treated as a sole proprietorship of Irene for income tax purposes, Irene must report the income and expenses from LLC on her Schedule C. Do my 2007 taxes online Irene will figure the tax due on her net earnings from self-employment on Schedule SE. Do my 2007 taxes online Irene can also deduct one-half of her self-employment tax on line 27 of her Form 1040. Do my 2007 taxes online Taxpayer identification number. Do my 2007 taxes online   For all income tax purposes, a single-member LLC classified as a disregarded entity must use the owner's social security number (SSN) or EIN. Do my 2007 taxes online This includes all information returns and reporting related to income tax. Do my 2007 taxes online For example, if a disregarded entity LLC that is owned by an individual is required to provide a Form W-9, Request for Taxpayer Identification Number and Certification, the LLC must provide the owner's SSN or EIN, not the LLC's EIN. Do my 2007 taxes online   However, most new single-member LLCs classified as a disregarded entity will need to obtain an EIN for the LLC. Do my 2007 taxes online An LLC will need an EIN if it has any employees or if it will be required to file any of the excise tax forms listed above (see Employment tax and certain excise taxes earlier). Do my 2007 taxes online See Form SS-4, Application for Employer Identification Number, for information on applying for an EIN. Do my 2007 taxes online Change in default classification. Do my 2007 taxes online   If a single-member LLC classified as a disregarded entity for income tax purposes acquires an additional member, it becomes a partnership under Regulations section 301. Do my 2007 taxes online 7701-3(f)(2). Do my 2007 taxes online However, if the LLC has made an election to be classified as a corporation (discussed later) and that elective classification is in effect at the time of the change in membership, the default classification as a partnership will not apply. Do my 2007 taxes online   Other tax consequences of a change in membership, such as recognition of gain or loss, are determined by the transactions through which an interest in the LLC is acquired or disposed of. Do my 2007 taxes online If a disregarded entity that becomes a partnership as a result of an increase in the number of members makes an election to be classified as a corporation, the applicable deemed transactions discussed in Subsequent Elections, later, apply. Do my 2007 taxes online Example 4. Do my 2007 taxes online Bart, who is not related to Alain, buys 50% of Alain's interest in an LLC that is a disregarded entity for $5,000. Do my 2007 taxes online Alain does not contribute any portion of the $5,000 to the LLC. Do my 2007 taxes online Alain and Bart continue to operate the business of the LLC as co-owners of the LLC. Do my 2007 taxes online The LLC is converted to a partnership when the new member, Bart, buys an interest in the disregarded entity from the owner, Alain. Do my 2007 taxes online Bart's buying a 50% interest in Alain's ownership interest in the LLC is treated as Bart's buying a 50% interest in each of the LLC's assets, which are treated as owned directly by Alain for federal income tax purposes. Do my 2007 taxes online Immediately thereafter, Alain and Bart are treated as contributing their respective interests in those assets to a partnership in exchange for ownership interests in the partnership. Do my 2007 taxes online Alain recognizes gain or loss from the deemed sale to Bart of the 50% interest in the assets. Do my 2007 taxes online Neither Alain nor Bart recognizes any gain or loss as a result of the deemed contribution of the assets to the partnership. Do my 2007 taxes online Example 5. Do my 2007 taxes online Charles, who is not related to Danielle, contributes $10,000 to an LLC owned by Danielle for a 50% ownership interest in the LLC. Do my 2007 taxes online The LLC uses all of the contributed cash in its business. Do my 2007 taxes online Charles and Danielle continue to operate the business of the LLC as co-owners of the LLC. Do my 2007 taxes online The LLC is converted from a disregarded entity to a partnership when Charles contributes cash to the LLC. Do my 2007 taxes online Charles's contribution is treated as a contribution to a partnership in exchange for an ownership interest in the partnership. Do my 2007 taxes online Danielle is treated as contributing all of the assets of the LLC to the partnership in exchange for a partnership interest. Do my 2007 taxes online Neither Charles nor Danielle recognizes gain or loss as a result of the conversion of the disregarded entity to a partnership. Do my 2007 taxes online   For more details on the preceding two examples, see Revenue Ruling 99-5, 1999-6 I. Do my 2007 taxes online R. Do my 2007 taxes online B. Do my 2007 taxes online 8. Do my 2007 taxes online You can find Revenue Ruling 99-5 at www. Do my 2007 taxes online irs. Do my 2007 taxes online gov/pub/irs-irbs/irb99-06. Do my 2007 taxes online pdf. Do my 2007 taxes online LLCs Classified as Corporations An LLC with either a single member or more than one member can elect to be classified as a corporation rather than be classified as a partnership or disregarded entity under the default rules discussed earlier. Do my 2007 taxes online File Form 8832, Entity Classification Election, to elect classification as a C corporation. Do my 2007 taxes online File Form 2553, Election by a Small Business Corporation, to elect classification as an S corporation. Do my 2007 taxes online LLCs electing classification as an S corporation are not required to file Form 8832 to elect classification as a corporation before filing Form 2553. Do my 2007 taxes online By filing Form 2553, an LLC is deemed to have elected classification as a corporation in addition to the S corporation classification. Do my 2007 taxes online If the LLC elects to be classified as a corporation by filing Form 8832, a copy of the LLC's Form 8832 must be attached to the federal income tax return of each direct and indirect owner of the LLC for the tax year of the owner that includes the date on which the election took effect. Do my 2007 taxes online Example 6. Do my 2007 taxes online Classification as a corporation without an S election. Do my 2007 taxes online Wanda and Sylvester are members of an LLC. Do my 2007 taxes online They agree that the LLC should be classified as a corporation but do not want to elect to have the LLC be treated as an S corporation. Do my 2007 taxes online The LLC must file Form 8832. Do my 2007 taxes online Example 7. Do my 2007 taxes online Classification as a corporation with an S election. Do my 2007 taxes online Evelyn and Carol are members of an LLC. Do my 2007 taxes online They agree that the LLC should be classified as an S corporation. Do my 2007 taxes online The LLC must file Form 2553 instead of Form 8832. Do my 2007 taxes online If the LLC is classified as a corporation, it must file a corporation income tax return. Do my 2007 taxes online If it is a C corporation, it is taxed on its taxable income and distributions to the members are includible in the members' gross income to the extent of the corporation's earnings and profits (double taxation). Do my 2007 taxes online If it is an S corporation, the corporation is generally not subject to any income tax and the income, deductions, gains, losses, and credits of the corporation “pass through” to the members. Do my 2007 taxes online Corporations generally file either: Form 1120, U. Do my 2007 taxes online S. Do my 2007 taxes online Corporation Income Tax Return; or Form 1120S, U. Do my 2007 taxes online S. Do my 2007 taxes online Income Tax Return for an S Corporation. Do my 2007 taxes online For more information on the income taxation of corporations and their shareholders, see Publication 542, Corporations. Do my 2007 taxes online For more information on the income taxation of S corporations and their shareholders, see the Instructions for Form 1120S, U. Do my 2007 taxes online S. Do my 2007 taxes online Income Tax Return for an S Corporation. Do my 2007 taxes online Subsequent Elections An LLC can elect to change its classification. Do my 2007 taxes online Generally, once an LLC has elected to change its classification, it cannot elect again to change it classification during the 60 months after the effective date of the election. Do my 2007 taxes online An election by a newly formed LLC that is effective on the date of formation is not considered a change for purposes of this limitation. Do my 2007 taxes online For more information and exceptions, see Regulations section 301. Do my 2007 taxes online 7701-3(c) and the Form 8832 instructions. Do my 2007 taxes online An election to change classification can have significant tax consequences based on the following transactions that are deemed to occur as a result of the election. Do my 2007 taxes online Partnership to corporation. Do my 2007 taxes online   An election to change classification from a partnership to a corporation will be treated as if the partnership contributed all of its assets and liabilities to the corporation in exchange for stock and the partnership then immediately liquidated by distributing the stock to its partners. Do my 2007 taxes online   For more information, see Partnership Distributions in Publication 541 and Property Exchanged for Stock in Publication 542. Do my 2007 taxes online Corporation to partnership. Do my 2007 taxes online   An election to change classification from a corporation to a partnership will be treated as if the corporation distributed all of its assets and liabilities to its shareholders in liquidation and the shareholders then immediately contributed all of the distributed assets and liabilities to a new partnership. Do my 2007 taxes online   For more information, see Contribution of Property in Publication 541 and Distributions to Shareholders in Publication 542. Do my 2007 taxes online Corporation to disregarded entity. Do my 2007 taxes online   An election to change classification from a corporation to a disregarded entity will be treated as if the corporation distributed all of its assets and liabilities to its single owner in liquidation. Do my 2007 taxes online   For more information, see Distributions to Shareholders in Publication 542. Do my 2007 taxes online Disregarded entity to corporation. Do my 2007 taxes online   An election to change classification from a disregarded entity to a corporation will be treated as if the owner of the disregarded entity contributed all of the assets and liabilities to the corporation in exchange for stock. Do my 2007 taxes online   For more information, see Property Exchanged for Stock in Publication 542. Do my 2007 taxes online How To Get More Information This section describes the help the IRS and other federal agencies offer to taxpayers who operate their own businesses. Do my 2007 taxes online Internal Revenue Service You can get help with unresolved tax issues, order free publications and forms, ask tax questions, and get information from the IRS in several ways. Do my 2007 taxes online By selecting the method that is best for you, you will have quick and easy access to tax help. Do my 2007 taxes online Contacting your Taxpayer Advocate. Do my 2007 taxes online   The Taxpayer Advocate Service (TAS) is an independent organization within the IRS whose employees assist taxpayers who are experiencing economic harm, who are seeking help in resolving tax problems that have not been resolved through normal channels, or who believe that an IRS system or procedure is not working as it should. Do my 2007 taxes online   You can contact the TAS by calling the TAS toll-free case intake line at 1-877-777-4778 or TTY/TDD 1-800-829-4059 to see if you are eligible for assistance. Do my 2007 taxes online You can also call or write to your local taxpayer advocate, whose phone number and address are listed in your local telephone directory and in Publication 1546, Taxpayer Advocate Service — Your Voice at the IRS. Do my 2007 taxes online You can file Form 911, Request for Taxpayer Advocate Service Assistance (And Application for Taxpayer Assistance Order), or ask an IRS employee to complete it on your behalf. Do my 2007 taxes online For more information, go to www. Do my 2007 taxes online irs. Do my 2007 taxes online gov/advocate. Do my 2007 taxes online Low Income Taxpayer Clinics (LITCs). Do my 2007 taxes online   LITCs are independent organizations that provide low income taxpayers with representation in federal tax controversies with the IRS for free or for a nominal charge. Do my 2007 taxes online The clinics also provide tax education and outreach for taxpayers with limited English proficiency or who speak English as a second language. Do my 2007 taxes online Publication 4134, Low Income Taxpayer Clinic List, provides information on clinics in your area. Do my 2007 taxes online It is available at www. Do my 2007 taxes online irs. Do my 2007 taxes online gov or at your local IRS office. Do my 2007 taxes online Small business workshops. Do my 2007 taxes online   Small business workshops are designed to help the small business owner understand and fulfill their federal tax responsibilities. Do my 2007 taxes online Workshops are sponsored and presented by IRS partners who are federal tax specialists. Do my 2007 taxes online Workshop topics vary from a general overview of taxes to more specific topics such as recordkeeping and retirement plans. Do my 2007 taxes online Although most are free, some workshops have fees associated with them. Do my 2007 taxes online Any fees charged for a workshop are paid to the sponsoring organization, not the IRS. Do my 2007 taxes online   For more information, visit www. Do my 2007 taxes online irs. Do my 2007 taxes online gov/businesses/small. Do my 2007 taxes online Subscribe to e-news for small businesses. Do my 2007 taxes online   Join the e-News for Small Businesses mailing list to receive updates, reminders, and other information useful to small business owners and self employed individuals. Do my 2007 taxes online Visit the website at www. Do my 2007 taxes online irs. Do my 2007 taxes online gov/businesses/small and click on “Subscribe to e-News. Do my 2007 taxes online ” Free tax services. Do my 2007 taxes online   To find out what services are available, get Publication 910, IRS Guide to Free Tax Services. Do my 2007 taxes online It contains a list of free tax publications and describes other free tax information services, including tax education and assistance programs and a list of TeleTax topics. Do my 2007 taxes online   Accessible versions of IRS published products are available on request in a variety of alternative formats for people with disabilities. Do my 2007 taxes online Internet. Do my 2007 taxes online You can access the IRS website at www. Do my 2007 taxes online irs. Do my 2007 taxes online gov 24 hours a day, 7 days a week, to: E-file your return. Do my 2007 taxes online Find out about commercial tax preparation and e-file services available free to eligible taxpayers. Do my 2007 taxes online Check the status of your refund. Do my 2007 taxes online Go to www. Do my 2007 taxes online irs. Do my 2007 taxes online gov and click on Where's My Refund. Do my 2007 taxes online Wait at least 72 hours after the IRS acknowledges receipt of your e-filed return, or 3 to 4 weeks after mailing a paper return. Do my 2007 taxes online If you filed Form 8379 with your return, wait 14 weeks (11 weeks if you filed electronically). Do my 2007 taxes online Have your tax return available so you can provide your social security number, your filing status, and the exact whole dollar amount of your refund. Do my 2007 taxes online Download forms, instructions, and publications. Do my 2007 taxes online Order IRS products online. Do my 2007 taxes online Research your tax questions online. Do my 2007 taxes online Search publications online by topic or keyword. Do my 2007 taxes online View Internal Revenue Bulletins (IRBs) published in the last few years. Do my 2007 taxes online Figure your withholding allowances using the withholding calculator online at www. Do my 2007 taxes online irs. Do my 2007 taxes online gov/individuals. Do my 2007 taxes online Determine if Form 6251 must be filed using our Alternative Minimum Tax (AMT) Assistant. Do my 2007 taxes online Sign up to receive local and national tax news by email. Do my 2007 taxes online Get information on starting and operating a small business. Do my 2007 taxes online Phone. Do my 2007 taxes online Many services are available by phone. Do my 2007 taxes online Ordering forms, instructions, and publications. Do my 2007 taxes online Call 1-800-829-3676 to order current-year forms, instructions, and publications, and prior-year forms and instructions. Do my 2007 taxes online You should receive your order within 10 days. Do my 2007 taxes online Asking tax questions. Do my 2007 taxes online Call the IRS with your tax questions at 1-800-829-1040. Do my 2007 taxes online Solving problems. Do my 2007 taxes online You can get face-to-face help solving tax problems every business day in IRS Taxpayer Assistance Centers. Do my 2007 taxes online An employee can explain IRS letters, request adjustments to your account, or help you set up a payment plan. Do my 2007 taxes online Call your local Taxpayer Assistance Center for an appointment. Do my 2007 taxes online To find the number, go to www. Do my 2007 taxes online irs. Do my 2007 taxes online gov/localcontacts or look in the phone book under United States Government, Internal Revenue Service. Do my 2007 taxes online TTY/TDD equipment. Do my 2007 taxes online If you have access to TTY/TDD equipment, call 1-800-829-4059 to ask tax questions or to order forms and publications. Do my 2007 taxes online TeleTax topics. Do my 2007 taxes online Call 1-800-829-4477 to listen to pre-recorded messages covering various tax topics. Do my 2007 taxes online Refund information. Do my 2007 taxes online To check the status of your 2009 refund, call 1-800-829-1954 during business hours or 1-800-829-4477 (automated refund information 24 hours a day, 7 days a week). Do my 2007 taxes online Wait at least 72 hours after the IRS acknowledges receipt of your e-filed return, or 3 to 4 weeks after mailing a paper return. Do my 2007 taxes online If you filed Form 8379 with your return, wait 14 weeks (11 weeks if you filed electronically). Do my 2007 taxes online Have your 2009 tax return available so you can provide your social security number, your filing status, and the exact whole dollar amount of your refund. Do my 2007 taxes online Refunds are sent out weekly on Fridays. Do my 2007 taxes online If you check the status of your refund and are not given the date it will be issued, please wait until the next week before checking back. Do my 2007 taxes online Evaluating the quality of our telephone services. Do my 2007 taxes online To ensure IRS representatives give accurate, courteous, and professional answers, we use several methods to evaluate the quality of our telephone services. Do my 2007 taxes online One method is for a second IRS representative to listen in on or record random telephone calls. Do my 2007 taxes online Another is to ask some callers to complete a short survey at the end of the call. Do my 2007 taxes online Walk-in. Do my 2007 taxes online Many products and services are available on a walk-in basis. Do my 2007 taxes online Products. Do my 2007 taxes online You can walk in to many post offices, libraries, and IRS offices to pick up certain forms, instructions, and publications. Do my 2007 taxes online Some IRS offices, libraries, grocery stores, copy centers, city and county government offices, credit unions, and office supply stores have a collection of products available to print from a CD or photocopy from reproducible proofs. Do my 2007 taxes online Also, some IRS offices and libraries have the Internal Revenue Code, regulations, Internal Revenue Bulletins, and Cumulative Bulletins available for research purposes. Do my 2007 taxes online Services. Do my 2007 taxes online You can walk in to your local Taxpayer Assistance Center every business day for personal, face-to-face tax help. Do my 2007 taxes online An employee can explain IRS letters, request adjustments to your tax account, or help you set up a payment plan. Do my 2007 taxes online If you need to resolve a tax problem, have questions about how the tax law applies to your individual tax return, or you are more comfortable talking with someone in person, visit your local Taxpayer Assistance Center where you can spread out your records and talk with an IRS representative face-to-face. Do my 2007 taxes online No appointment is necessary—just walk in. Do my 2007 taxes online If you prefer, you can call your local Center and leave a message requesting an appointment to resolve a tax account issue. Do my 2007 taxes online A representative will call you back within 2 business days to schedule an in-person appointment at your convenience. Do my 2007 taxes online If you have an ongoing, complex tax account problem or a special need, such as a disability, an appointment can be requested. Do my 2007 taxes online All other issues will be handled without an appointment. Do my 2007 taxes online To find the number of your local office, go to www. Do my 2007 taxes online irs. Do my 2007 taxes online gov/localcontacts or look in the phone book under United States Government, Internal Revenue Service. Do my 2007 taxes online Mail. Do my 2007 taxes online You can send your order for forms, instructions, and publications to the address below. Do my 2007 taxes online You should receive a response within 10 days after your request is received. Do my 2007 taxes online Internal Revenue Service1201 N. Do my 2007 taxes online Mitsubishi MotorwayBloomington, IL 61705–6613 DVD for tax products. Do my 2007 taxes online You can order Publication 1796, IRS Tax Products DVD, and obtain: Current-year forms, instructions, and publications. Do my 2007 taxes online Prior-year forms, instructions, and publications. Do my 2007 taxes online Tax Map: an electronic research tool and finding aid. Do my 2007 taxes online Tax law frequently asked questions. Do my 2007 taxes online Tax Topics from the IRS telephone response system. Do my 2007 taxes online Internal Revenue Code—Title 26 of the U. Do my 2007 taxes online S. Do my 2007 taxes online Code. Do my 2007 taxes online Fill-in, print, and save features for most tax forms. Do my 2007 taxes online Internal Revenue Bulletins. Do my 2007 taxes online Toll-free and email technical support. Do my 2007 taxes online Two releases during the year. Do my 2007 taxes online – The first release will ship the beginning of January. Do my 2007 taxes online – The final release will ship the beginning of March. Do my 2007 taxes online Purchase the DVD from National Technical Information Service (NTIS) at www. Do my 2007 taxes online irs. Do my 2007 taxes online gov/cdorders for $30 (no handling fee) or call 1-877-CDFORMS (1-877-233-6767) toll free to buy the DVD for $30 (plus a $6 handling fee). Do my 2007 taxes online Small Business Administration The Small Business Administration (SBA) offers training and educational programs, counseling services, financial programs, and contract assistance for small business owners. Do my 2007 taxes online The SBA also has publications and videos on a variety of business topics. Do my 2007 taxes online The following briefly describes assistance provided by the SBA. Do my 2007 taxes online Small Business Development Centers (SBDCs). Do my 2007 taxes online   SBDCs provide counseling, training, and technical services to current and prospective small business owners who cannot afford the services of a private consultant. Do my 2007 taxes online Help is available when beginning, improving, or expanding a small business. Do my 2007 taxes online Business Information Centers (BICs). Do my 2007 taxes online   BICs offer a small business reference library, management video tapes, and computer technology to help plan a business. Do my 2007 taxes online BICs also offer one-on-one assistance. Do my 2007 taxes online Individuals who are in business or are interested in starting a business can use BICs as often as they wish at no charge. Do my 2007 taxes online Service Corps of Retired Executives (SCORE). Do my 2007 taxes online   SCORE provides small business counseling and training to current and prospective small business owners. Do my 2007 taxes online SCORE is made up of current and former business people who offer their expertise and knowledge to help people start, manage, and expand a small business. Do my 2007 taxes online SCORE also offers a variety of small business workshops. Do my 2007 taxes online    Internet. Do my 2007 taxes online You can visit the SBA website at www. Do my 2007 taxes online sba. Do my 2007 taxes online gov. Do my 2007 taxes online While visiting the SBA website, you can find a variety of information of interest to small business owners. Do my 2007 taxes online    Phone. Do my 2007 taxes online Call the SBA Answer Desk at 1-800-UASK-SBA (1-800-827-5722) for general information about programs available to assist small business owners. Do my 2007 taxes online    Walk-in. Do my 2007 taxes online You can walk in to a Small Business Development Center or Business Information Center to request assistance with your small business. Do my 2007 taxes online To find the location nearest you, visit the SBA website or call the SBA Answer Desk. Do my 2007 taxes online Other Federal Agencies Other federal agencies also publish publications and pamphlets to assist small businesses. Do my 2007 taxes online Most of these are available from the Superintendent of Documents at the Government Printing Office. Do my 2007 taxes online You can get information and order these publications and pamphlets in several ways. Do my 2007 taxes online Internet. Do my 2007 taxes online You can visit the GPO website at www. Do my 2007 taxes online access. Do my 2007 taxes online gpo. Do my 2007 taxes online gov. Do my 2007 taxes online Mail. Do my 2007 taxes online Write to the GPO at the following address. Do my 2007 taxes online Superintendent of DocumentsU. Do my 2007 taxes online S. Do my 2007 taxes online Government Printing OfficeP. Do my 2007 taxes online O. Do my 2007 taxes online Box 979050St. Do my 2007 taxes online Louis, MO 63917-9000 Phone. Do my 2007 taxes online Call the GPO toll-free at 1-866-512-1800 or at 202-512-1800 from the Washington, DC area. Do my 2007 taxes online Prev  Up  Next   Home   More Online Publications