Sole Prop LLC delinquent filing tax liabilities? I don't understand why you would have a Tax Problem at all! You have probably sustained a loss in your business, where are the tax liabilities coming from?
Am I missing something here? The Federal and Illinios State tax you in your net income from the Business, and if this is a Loss, then how would there be a question of a tax liability?
There would be no penalties once you file the delinquent tax returns. It really would be in your best interest to have a CPA to assist you in the filing of your all your past tax returns. |