Does anyone know if there's a time limit on how long after dissolution you need to notify the IRS? I dissolved my LLC about 8 months ago but haven't done anything with the IRS yet...

I went through this exact same situation last year with my tech consulting LLC that never got off the ground. Here's what I learned from speaking directly with an IRS representative: For a single-member LLC that was treated as a disregarded entity and had zero activity, you're not required to file any returns since there's nothing to report on your personal return. However, you should definitely notify the IRS that the business is closed to avoid any future confusion. The process is actually pretty simple: 1. Write a letter stating that your LLC has been dissolved 2. Include your EIN, business name, and dissolution date 3. Attach a copy of your state dissolution paperwork 4. Mail it to the IRS processing center for your area The key thing is getting this on record so the IRS doesn't send you notices expecting returns from a business that no longer exists. I sent mine about 3 weeks after my state dissolution and never had any issues. Since you've already handled the state side, you're in good shape - just need to close the loop with the IRS. Better to do it now than wait and potentially deal with automated notices later.

I went through this last year with my parents. One thing to watch out for - if you buy the 1099 forms from the IRS website, order them WAY in advance. I ordered mine in early January and they didn't arrive until after the deadline! Also, make sure you're using the official red-scannable forms for the Copy A that goes to the IRS. You can't just print the PDF from the IRS website for Copy A because it won't scan properly. The other copies (B, C, etc.) can be printed from the PDF though.

This is such a helpful thread! I'm dealing with a similar situation where I borrowed money from my uncle for a small business startup. We set up a formal loan agreement with 4% interest, and I've been making monthly payments including interest for about 8 months now. One question I haven't seen addressed - what happens if the total interest I pay him for the year ends up being less than $10? Do I still need to issue a 1099-INT, or is there actually a minimum threshold before it's required? I'm calculating that I'll probably pay around $180 in interest for the full year, so I'm definitely over the threshold, but I'm curious about the exact rules. Also, does anyone know if there are any special considerations when the loan is for business purposes versus personal use? I'm wondering if that changes anything about how I handle the 1099-INT or if it affects the deductibility on my end since this was for legitimate business expenses.

Something everyone's missing - check if you even needed to file! If your income is only 4100 Swiss francs annually (roughly $4500 USD), that's below the filing threshold for most years. For 2022, the standard deduction was $12,950 for single filers, so if you earned less than that, you weren't even required to file a US return. For your retired mom, it depends on her income sources and amounts, but the thresholds are different for seniors. Don't waste money on expensive tax specialists until you determine if you even had a filing requirement based on your income level!

Just wanted to add some reassurance from someone who went through this exact situation! I'm a dual citizen (US/German) who hadn't filed US taxes in 8 years while living in Berlin. I was absolutely terrified about traveling to the US for my sister's wedding. Like everyone else has said, there's zero connection between IRS tax compliance and border control. I've traveled to the US multiple times while getting my tax situation sorted out, and it was never an issue. The border agents only care about your passport validity and standard security screening. I used the Streamlined Foreign Offshore Procedures to catch up on my filings. With your income level and the Foreign Earned Income Exclusion, you'll likely owe nothing. The process took about 6 weeks total, but I didn't wait to travel - I started the process after my trip. Your dad should be fine too. Retired expats are actually in a better position since pension income often has favorable tax treaty treatment. Just enjoy your Boston trip and deal with the tax compliance when you return. The anxiety is so much worse than the actual reality!

I've filed in both Maryland and Virginia for years, and Maryland is consistently slower. This year is exceptionally bad though - my Virginia return was processed in 6 days while Maryland took 22 days. If your return includes any credits or deductions that aren't straightforward W2 income, it's likely going through additional verification. Last year my neighbor had a similar delay and it turned out someone had attempted to file fraudulently using his info before his legitimate return was submitted.

I'm dealing with the exact same issue! Filed my Maryland return on February 20th and it's still showing "being processed" after 4+ weeks. This is my first year filing in MD after moving from Delaware, where I always got my state refund within a week. Called the MD Comptroller's office yesterday and after waiting on hold for 45 minutes, the representative said they're experiencing "unprecedented volume" and that my return looks fine but is just in the queue. She couldn't give me a specific timeline beyond "it should process soon." Really hoping it comes through in the next week or two because like you, I have some expenses I've been delaying. At least it's good to know others are experiencing the same delays - makes me feel less worried that there's an actual problem with my return.

Just wondering - has anyone used TurboTax for reporting foreign gambling winnings? Does it handle this situation well or is it worth paying for a professional this year?

Congratulations on the big win! Just to add to what others have said - since you mentioned this was during a business trip, make sure you don't accidentally try to deduct any gambling losses as business expenses. The IRS is very strict about keeping business and personal expenses separate, even when they occur during the same trip. Also, with that amount of winnings, you'll likely need to make quarterly estimated tax payments for this year to avoid underpayment penalties. The general rule is you need to pay 90% of this year's tax liability or 100% of last year's (110% if your prior year AGI was over $150k). A big gambling win can throw off your usual withholding calculations. Given the complexity with foreign accounts, FBAR requirements, and the substantial amount involved, I'd strongly recommend finding a CPA or tax attorney who specializes in international tax issues. The cost of professional help will be much less than potential penalties for getting it wrong.