Posted on: 19th Apr, 2010 08:56 am
My partner and I quit claim our property to our corporations name. The IRS is telling us that we now owe them over 6,000.00 for the transaction. What can we do? This does not seam fair.
Hi darechavala!
Welcome to forums!
As far as I know, you will be liable for the taxes while you transfer your property from your name to your LLC. You can contact a tax adviser and he would be able to explain the whole thing to you in details. You will have to pay the dues or else, the IRS may place a lien on your property.
Sussane
Welcome to forums!
As far as I know, you will be liable for the taxes while you transfer your property from your name to your LLC. You can contact a tax adviser and he would be able to explain the whole thing to you in details. You will have to pay the dues or else, the IRS may place a lien on your property.
Sussane