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Got notice from CA Franchise Tax Board Form 568 missing. Why wasn't it submitted?

Forum|Forum|6 years ago
June 7, 2019
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TurboTax Self Employed Online

Best answer by TomYoung

This is very easy to miss. In the California interview, on the page "Business Summary", (and you get there by clicking on the "Start" button next to "Business Summary" on the "Uncommon Income and Other California Adjustments" page), there's a "Note" that reads "if any of these businesses are a Single Member LLC for California, select edit next to that business."

Selecting "Edit" and confirming that the business is a Single Member LLC brings up a page titled "California requires that you e-file form 568" and that's where you are told that you can e-file this form if you download TurboTax Business, and you're also told that "California allows some people to print and mail form 568, with a link to the FTB's site. Then you are presented with the various pages of form 568 to fill out. There's really no "interview" per se, you are simply filling out the form in the same fashion you would fill out a paper form 568.

Having worked through the various pages of form 568 you ultimately come to a page with a "Print Form 568" button on it.

Tom Young

M

mjloheedAuthor

It was not printed. I did pay my $800 CA LLC fee which goes with my voucher.

Lisa995

Employee

Did you complete and submit it? Look at the copy of the return you saved/printed for your records....is the 568 included? You should find a Federal 1040, a California 540 and a California 568. Did you pay the $800 annual CA LLC fee that goes with the 568?

♪♫•*¨*•.¸¸♥Lisa♥ ¸¸.•*¨*•♫♪

Lisa995

Employee

If you don't see it in the print out, then it wasn't prepared or submitted. In the Business section, when you were entering your self employment income and expenses, there should have been a question asking if your business is a SMLLC (single member LLC. Do you remember seeing that question?

♪♫•*¨*•.¸¸♥Lisa♥ ¸¸.•*¨*•♫♪

T

TomYoungAnswer

Employee

This is very easy to miss. In the California interview, on the page "Business Summary", (and you get there by clicking on the "Start" button next to "Business Summary" on the "Uncommon Income and Other California Adjustments" page), there's a "Note" that reads "if any of these businesses are a Single Member LLC for California, select edit next to that business."

Selecting "Edit" and confirming that the business is a Single Member LLC brings up a page titled "California requires that you e-file form 568" and that's where you are told that you can e-file this form if you download TurboTax Business, and you're also told that "California allows some people to print and mail form 568, with a link to the FTB's site. Then you are presented with the various pages of form 568 to fill out. There's really no "interview" per se, you are simply filling out the form in the same fashion you would fill out a paper form 568.

Having worked through the various pages of form 568 you ultimately come to a page with a "Print Form 568" button on it.

Tom Young

S

ssharifian

Do you have to file CA 568 electronically? If so, how can you do it if you have TurboTax Business? How do you transfer the info from your personal return to TurboTax Business?

B

bluetwo

https://ttlc.intuit.com/questions/4152993-does-turbo-tax-business-efile-ca-form-568-for-single-membe...

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EmilyO1

This was a costly mistake just got off the phone with FTB and my estimated fees and penalties for not filing 568, which was inadvertently missed, are over $550…will see if I can even go in and generate it. Bummer that my first year filing I didn’t know this and it has now become a costly error three years (almost four years) later!

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MR1868

Wow I just received this dumb letter from FTB as well. They even want an income statement from 2019 only four months in which the business was formed.