New Federal Requirement: Starting January 1, 2024, most business entities in the US will need to report Beneficial Ownership Information.


Past due IRS debt

Asked by: debbie  — 12 December, 2011

Does forming an LLC protect from personal past due IRS debt?

Answered by: admin  — 12 December, 2011


Having an LLC can indeed help protect you and your assets from creditors and personal debts, though depending on the state of your LLC’s registration, the level of protection may vary.

However it does not work the other way around, especially in regard to IRS. If you owe money personally to the IRS (or anyone else in that case) forming an LLC does nothing to help you.

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