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If an LLC (sole proprietor) changes ownership from one member to another, does the IRS require notification and, if so, what would be the time-frame?


ANSWER


The BIDaWIZ Team's Answer:

You would need to file form 8832. Essentially, it's 75 days as per the IRS instructions on form 8832 here. Do you know the type of entity? S Corps have specific filing requirements.

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