warnickcpa wrote:I'm a little confused now. So electing to go back to DRE can cause tax implications? I thought it was as "simple" as filing the revocation letter and the 8832?
JR1 wrote:Warnick, it's a one way road, like birthing a baby. They don't go back. Once you make that election to be treated as ANY kind of corp, there you are. You must have a funeral for the corp for anything different.
warnickcpa wrote:JR1 wrote:Warnick, it's a one way road, like birthing a baby. They don't go back. Once you make that election to be treated as ANY kind of corp, there you are. You must have a funeral for the corp for anything different.
I appreciate your input. So what's the point of the 8832 then? It has the option that says "a domestic eligible entity with a single owner electing to be disregarded as a separate entity"
Nilodop wrote: Got it? Hope so.
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