I have a similar situation to a recent post (viewtopic.php?f=8&t=28863) but didn't want to hijack that post and then it would make responses hard to follow for both situations.
Situation:
LLC exists in 2020, 2021, and 2022. Prior preparer for new clients filed only one Schedule C for 2020 and 2021. The EIN letter from 2020 reflects that the LLC is a partnership and should file a 1065, yet no 1065 has ever been filed.
Do you go back and correct by filing a 1065 for 2020, 2021, and 2022 (which has late filing penalties and a host of other potential problems with depreciation) or let it ride as a Schedule C for 2020 and 2021?
They will be filing a 1065 for sure for 2022.
Thank you for your thoughts!