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Disregarding an entity? What does that mean?

Answered by: 
Deborah Crawford

Question: 
If our single member LLC customer wants to disregard? What does that mean?
Answer: 

A single member LLC can choose to report for tax purposes in the owner’s TIN. The owner could be a person, another business or a trust. This is called disregarding the entity and is only used for single member LLCs.

Learn more about Deborah Crawford's
New Account Procedures-40 Ownership Typesg webinar.

First published on 02/11/2024

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