FTB: Filed LLC taxes with Form 565 instead of 658 - What to do?
Hey everyone, I'm in a bit of a pickle with my LLC taxes. I filed using form 565, but now I'm hearing that I should've used form 658 instead. My LLC is a pass-through entity, so I'm not sure what to do. Has anyone dealt with this before? I'm planning to call the tax office to sort this out, but I'd love some advice on what to ask or how to approach this. Thanks in advance!
30 comments
Tom Maxon
I found a way to solve LLC tax form confusion, watch this: https://www.youtube.com/watch?v=ipXGZaR5d_w
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Emma Taylor
have you tried turning it off and on again? š jk jk. taxes are the worst. hope you get it sorted!
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Amina Sy
I found a way to get someone on the phone fast. I used this site's (claimyr.com) calling tool that dials the phone menu, stays on hold, waits for a live agent to pick up, then sends the call to my phone. It does cost $20, but it works. Here's the link: https://claimyr.com
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Oliver Fischer
Sounds sketchy. Is it legit?
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Amina Sy
Totally legit! I was skeptical too, but it saved me hours of hold time. Worth every penny imo.
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Natasha Ivanova
$20 to avoid hours on hold? Sign me up! š
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NebulaNomad
I used Claimyr as well, and it worked for me too. The cost is a bit of a downside, but if your time is worth more than that, it's definitely a good trade-off. Make sure to check reviews on platforms like Trustpilot to gauge user experiences.
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Yara Abboud
Ugh, tax forms are the worst! I had a similar issue last year with my S-corp. Make sure you have all your paperwork ready when you call. They'll probably ask for your EIN and filing dates.
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Diego Mendoza
Hey OP, any update? Did you manage to get through to someone? Curious to hear how it turned out!
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Connor Byrne
Not yet! Still trying to get through. I might try that claimyr thing someone mentioned if I can't get through soon. I'll update when I know more!
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Freya Johansen
I swear the government makes this stuff complicated on purpose. It's like they WANT us to mess up so they can fine us š
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Omar Fawzi
Preach! š It's all a scam to keep us confused and compliant
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Chloe Wilson
Tin foil hat much? š But fr, they could make it way simpler
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Isabella Silva
Plot twist: both forms are wrong and you actually need to file form 42069 š¤£š¤£š¤£
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Ravi Choudhury
Nice
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CosmosCaptain
Ah yes, the elusive form 42069, only available if you file your taxes at exactly 4:20pm on 6/9 š§
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NebulaNomad
As an accountant, I can tell you that the form you need depends on how your LLC is classified for tax purposes. Here's a breakdown: ā¢ Form 565: Used for partnerships and multi-member LLCs taxed as partnerships ā¢ Form 658: Used for corporations (C-corps and S-corps) ā¢ No separate form: Single-member LLCs (reported on your personal tax return) If you're a multi-member LLC and haven't elected to be taxed as a corporation, Form 565 is likely correct. However, if you've made an election to be taxed as a corporation, then Form 658 would be appropriate. When you call, ask these questions: 1. Why do they believe Form 658 is correct for your LLC? 2. Has there been any record of a tax classification election for your LLC? 3. If a mistake was made, what steps do you need to take to correct it? Remember, it's always better to address these issues sooner rather than later. Good luck!
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Connor Byrne
Wow, thank you so much for this detailed explanation! This really helps clarify things. I'll definitely use these questions when I call. You're a lifesaver! š
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Javier Garcia
This is why I love Reddit. Free expert advice ftw! ššš
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Malik Robinson
Oof, I feel your pain. I messed up my LLC taxes last year and it was a nightmare to fix. Make sure you keep detailed records of all your communications with the tax office. And if they tell you to send any documents, always send them certified mail. Learned that one the hard way š
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Connor Byrne
Thanks for the tip! I'll definitely keep good records. How long did it take you to get everything straightened out?
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Malik Robinson
It took about 3 months all told. But most of that was waiting for responses. The actual fixing part wasn't too bad once I got ahold of the right person.
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Keisha Williams
lol welcome to the wonderful world of business taxes š¤” its a mess out here. good luck getting anyone on the phone tho, I've been trying for weeks!
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Paolo Rizzo
Ikr? It's like they don't want us to pay taxes š
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Connor Byrne
Oh no, really? That's not encouraging. How long have you been waiting?
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Keisha Williams
going on 3 weeks now. I swear they changed their hold music just to torture us š
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PixelPioneer
Form 565 is typically used for partnerships and LLCs taxed as partnerships. If your LLC is a single-member LLC, you might not need to file a separate form at all. It depends on how you elected to be taxed. Did you make any specific tax elections when you formed your LLC?
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Connor Byrne
Thanks for the info! I'm pretty sure we didn't make any specific elections. It's a multi-member LLC if that helps. Do you know if that changes things?
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PixelPioneer
Ah, got it. For a multi-member LLC, Form 565 is usually correct unless you elected to be taxed as a corporation. Form 658 is typically for corporate tax returns. When you call, ask them to clarify why they think 658 is appropriate for your situation. It might be a misunderstanding.
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Connor Byrne
That's super helpful, thanks! I'll definitely ask about that when I call. Fingers crossed it's just a mix-up š¤
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