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Old 03-04-2008, 10:02 AM
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Sole Prop LLC delinquent filing tax liabilities?

I don't understand why you would have a Tax Problem at all! You have probably sustained a loss in your business, where are the tax liabilities coming from?

Am I missing something here? The Federal and Illinios State tax you in your net income from the Business, and if this is a Loss, then how would there be a question of a tax liability?

There would be no penalties once you file the delinquent tax returns. It really would be in your best interest to have a CPA to assist you in the filing of your all your past tax returns.
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