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@oregonnowandthen Late filing penalties are per K-1 per month the return is late. However, provided 2021 and 2023 were timely filed, then you can request first time penalty abatement.

@cjthebaptist She does not understand tax. She is incorrect here.

@cjthebaptist An LLC by default is taxed like a sole proprietor when there is only one owner. If you did not file any positive elections with the IRS, you are taxed as a sole proprietor. Since it sounds like you did not make any elections with the IRS, you are a sole proprietor for tax...