More than two decades ago, the Service announced its intention to consider simplifying the entity classification rules in Notice 95-14. It stated: “The Internal Revenue Service and the Treasury ...

Here's how to complete Form 8832 so you can tell the IRS how to classify your business for tax purposes. Many, or all, of the products featured on this page are from our advertising partners who ...

The IRS recently issued general legal guidance illustrating the application of the often misunderstood relevance rules for foreign entities in various settings. 1 This article provides a brief summary ...

It can be the case that companies are operating under an inferior business classification — an issue that’s more common than many would think. “They might have chosen a classification as a startup ...

A limited liability company (LLC) is a statutory business entity that may be formed by at least two members (although one-member LLCs are permitted in some states) by drafting articles of organization ...

For federal income tax purposes an LLC, or limited liability company, is considered a disregarded entity. In effect, the LLC does not exist under the Internal Revenue Code. Despite this fact, a ...