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US Tax Filing Requirements for LLCs

There are certain requirements you have to comply with when filing US tax for your LLC. Learn what these are so you stay on the right side of the law.

January 8, 2021
4 min

Taxes and IRS filing requirements can be extremely confusing. So we've put together an overview of the required filings + key deadlines to keep in mind to stay on top of taxes for your LLC! And if you need help filing your paperwork/taxes for your LLC with the IRS, contact StartPack. We have an extensive network of professionals who can help you. We have personally negotiated and secured fair and affordable rates for tax filings.

I am a US Single Owner/Sole Proprietor (US Single Member LLC) with a Personal Income Tax Filing Requirement

Included Filings:

Key Dates:

  • April 15, 2021: Individual tax returns (Form 1040) including LLCs filing on Schedule C must be filed or request an extension for an extra six months to file your return.

Price to help with filings through StartPack CPA:

  • $749

Alternative CPAs charge upwards of $3000+

I am a Foreign Single Owner/Sole Proprietor (Foreign Single Member LLC)

If you own a Foreign Single Member LLC, and you are not considered as “Engaged in US Trade or Business” you are not required to file 1040NR or pay personal income taxes.

As a "Non-Resident Alien" (aka foreigner), you are only required to file and pay taxes in the U.S if you have FDAP income for which withholding was not done at source , or have effectively connected income with US Trade or Business.

Here is an extensive article on what may constitute US Trade or Business: https://oandgaccounting.com/amazon-foreign-sellers-irs-taxes-and-1099-k-reporting/

However, as of 2017, you still report information like a corporation (see Section 1.6038A-1). Therefore, unless you have registered as a corporation, all single-member LLCs are subject to these requirements. Failure to file or incorrect filling will incur a minimum penalty of $25,000.

Included Filings:

Key Dates:

  • April 15, 2021: Deadline for LLC tax returns when filing as Foreign Owned Disregarded Entity (Forms 1120 and 5472) or to request a six-month extension of time to file.
  • April 15, 2021: Deadline to file individual tax returns for foreign individuals (Form 1040NR) or to request an extension for an extra six months to file your return.

Price to help with filings through StartPack Partner CPA:

  • $749

Alternative CPAs charge upwards of $3000+

I am a Multi Owner (Multiple Member LLC)

Included Filings:

  • Preparation of partnership return (Form 1065)
  • Preparation of one rental real estate investment (Form 8825)
  • Preparation of Schedule K-1s for up to four members
  • Preparation of forms 8804, 8805 and 8813 may be required if the partnership has effectively connected income with US Trade or Business

Key Dates:

  • March 15, 2021: Deadline for partnership and LLCs owned by multiple members to file tax returns (Form 1065) or to request a six-month extension of time to file.

Price to help with filings through StartPack Partner CPA:

  • $949 for 2 people
  • $1199 for 3 people
  • $1449 for 4 people
  • $1699 for 5 people

Alternative CPAs charge upwards of $3000+

I have an LLC that has elected to file taxes as a C-Corporation

Included Filings:

  • Preparation of Corporate Tax Return (Form 1120)
  • Preparation of foreign owner report/ Related Party Disclosures (Form 5472)

Key Dates:

  • April 15, 2021: Deadline for Corporations or to request a six-month extension of time to file.

Price to help with filings through StartPack Partner CPA:

  • $949 for 2 people
  • $1199 for 3 people
  • $1449 for 4 people
  • $1699 for 5 people

Alternative CPAs charge upwards of $3000+

What are the key dates to be aware of in 2021?

  • January 15, 2021: Individual filers must pay fourth-quarter estimated tax payment for tax year 2020.
  • February 1, 2021: Last day for employers to mail out W-2 Forms to their employees.
  • February 1, 2021: 1099 forms for interest, dividends, and Form 1099-S relating to real estate transactions must be mailed to recipients.
  • February 1, 2021: Form 1099-MISC must be sent to US independent contractors.
  • March 1, 2021: Delaware Franchise Tax filing deadline for corporations formed in Delaware.
  • March 15, 2021: Deadline for partnership and LLCs owned by multiple members to file tax returns (Form 1065) or to request a six-month extension of time to file.
  • March 15, 2021: Deadline for filing form 1042-S reporting dividends or partnership income to non-US individuals.
  • March 15, 2021: Elections for changing 2021 entity tax classification for LLCs or S-corp election for corporations must be filed by this date.
  • March 31, 2021: Last date for businesses to e-file Forms 1099 and 1096 to the IRS.
  • April 15, 2021: Deadline for LLC tax returns when filing as Foreign Owned Disregarded Entity (Forms 1120 and 5472) or to request a six-month extension of time to file.
  • April 15, 2021: Individual tax returns (Form 1040) including LLCs filing on Schedule C must be filed or request an extension for an extra six months to file your return.
  • April 15, 2021: Deadline to file individual tax returns for foreign individuals (Form 1040NR) or to request an extension for an extra six months to file your return.
  • April 15, 2021 Payment of any additional tax due on individual or corporate tax returns must be paid on this date.
  • April 15, 2021: First-quarter estimated tax payments for the 2021 tax year are due.
  • April 15, 2021: California minimum tax ($800) is due for all entity types that engage in business in California.
  • May 17, 2021: Texas franchise tax returns and public information report are due for Texas corporations and LLCs.
  • June 1, 2021: Delaware Franchise Tax payment is due for LLCs formed in Delaware.
  • June 15, 2021: Second-quarter estimated tax payments for the 2021 tax year are due.
  • June 15, 2021: Deadline for U.S. citizens living abroad or corporations and partnerships who keep their books and records abroad to file tax returns (Form 1040, 1120 or 1065) or to request a four-month extension.
  • June 15, 2021: Forms 8804 and 8805 reporting income for foreign owners of US partnerships are due, or an extension can be requested (separate from 1065 extension).
  • September 15, 2021: Third-quarter estimated tax payments for the 2021 tax year are due.
  • September 15, 2021: Final deadline to file partnership tax returns for tax year 2020, if an extension was requested (Forms 1065).

Save Yourself the Hassle - StartPack Can Help

That was a lot to take in. And even though the IRS provides information online to fill these forms out on your own, it can be confusing to understand this information and time consuming to fill these forms out.

If you need help filing your paperwork/taxes for your LLC with the IRS, contact StartPack. We have an extensive network of tax professionals who can help you at fair and affordable rates!

That way, you can focus on what you do best: building your business. We'll handle the rest.

About the author

Arjun Mahadevan

Co-Founder and CEO at StartPack

Arjun is into helping founders turn their dream idea into a profitable business. Arjun is into health & fitness 💪 and tech 💻

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