USA IRS/Tax law

Where to find it?

[fischermx]

I'm incorporating to an USA LLC company during the next days and I want to know first hand about the USA Tax law.
I guess, want to, there's must be a place where the whole text of it is online for everybody to read (the Mexican IRS equivalent law is online in a pdf file).
But I can't find such documents in the irs.gov site.
Anybody could point if this exists?

[Lex_Luther]

I wonder if they could even fit an overbloated thing online. Be nice if they handed them out in paper book form, perhaps we could use them to heat our homes.

[fischermx]

Don't think so.
I've just found the one for individuals :
[irs.gov...]
Look at the bottom links.

Now, I need to look for such similar document but for businesses.

[Jane_Doe]

LLC laws in the U.S. are decided for the most part at the state level.

You have to check the web site for the state in which you want to set up your LLC for the particular rules. There are certain states where the laws are more favorable depending on different factors, so the state where you set up your LLC is not an insignificant decision. Plus the state fees to have an LLC vary quite a bit. Some places are pretty expensive.

[Marcia]

The US Law is so voluminous and frequently updated that CPAs and tax attorneys subscribe to publications that they receive on a regular basis. If you've seen the "library" of a CPA, there can be shelf-loads of books and binders containing the latest tax information. They have to keep up to date, and that's why they can charge so much.

The best thing is to have a tax professional to consult with, especially when setting up an enterprise at the beginning, to make sure it's up to snuff with current laws and stays that way for continued compliance and reporting. It's safer and easier on the nerves anyway, in case there's ever an audit.

The first several government listings here are invaluable resources to get a good picture, and there's information about local-based assistance, seminars and counselling

Google search for Small Business Administration [google.com]

[fischermx]

Thanks a lot for your comments. Actually I've found a lot of publications in form of PDF in the IRS website.

However, I'm afraid, I still need to know basic stuff.
If I'm doing an LLC (a foreign one), am I a corporation for tax purposes?
or should I study just documents bases on taxes for individuals?

[oldpro]

However, I'm afraid, I still need to know basic stuff.

There is nothing basic about the US Tax Code. It is so verbose and full of contradictions compliance is impossible. A few years ago I received a penality and underpayment notice that was in the thousands of dollars for a simple mistake (which at the end of the ordeal was not a mistake...my accountant did it right the first time).

To get them off my back (threats to levy my bank account and seize my assets) I paid the amount they said I owed. Apparently what happened an interpretation was made by one IRS examiner and applied a penality because he thought I owed more than I paid in.

Then we appealed it and another examiner interpreted it differently and took the penality and the "underpayment away. A couple of months later I got a letter from the IRS that I would be sent a refund within 6 months.

Its been 14 years and still waiting for my refund. I figure at the rate they penalized me if applied to the IRS for non payment of my refund....I should be a millionaire a million times over.

[Jane_Doe]

[quote]If I'm doing an LLC (a foreign one), am I a corporation for tax purposes? [/quote}

Check out the articles at the Nolo press site if you want some do it yourself stuff on LLCs and corporations.

[hutcheson]

>If I'm doing an LLC (a foreign one), am I a corporation for tax purposes?

That's an easy question. The answer is a definite "maybe. It depends..."