Back filing tax returns

[sentientmonkey]

Hi All,

I don't know if this is the right forum, but I have a quick tax return related question.

A few years ago I started an LLC registered in Delaware for a business i wanted to start. Immediately after, I got an offer for a job I couldn't refuse, so the business idea got put on hold.

I haven't had any income or expenditures and I haven't changed the business to an S-Corp. I have filed the required yearly Delaware papers, but I haven't filed any federal returns whatsoever because I didn't think I needed to (no business activity).

It looks like I will be starting the business this coming year as an S-Corp, so I'd like to clean up my act and "do the right thing".

Should I file the form 2553 and returns for the previous years with "no activity" on them?

Should I just file form 2553 and the current return ignoring prior years?

Did I have to file the previous years returns even with no penalty, and if so, are there penalties associated with not having done so?

Really appreciate any advice you guys can offer,
Sentient (barely) Monkey

[Evan]

How did you form the LLC? By default, it's a disregarded entity, meaning you'd report the income on your 1040. If there was no income/expenses, then there was no return. But you just said you paid the yearly Delaware paperwork... pretty sure there is a fee there.

LLC and S-Corp are two different things. Are you wishing to have your LLC now taxed as an S-Corp? While you could make an election to go back for the start date of an S election, if you haven't been operating, why bother? Just start it for the beginning of next year and move on. Otherwise, you need to file more tax returns, amend your personal return, and do a lot more over nothing.