General Partner Refuses to issue a 1120s

Forum|Forum|4 years ago
December 23, 2021
2 replies
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Hello Everyone, General Partner Refuses to issue/give me a 1120s after filling 2020 taxes. I believe 25% or over are eligible to get the 1120s. Also CPA didn't get my signature during the tax filing and CPA is also not willing to give the 1120s. How I get ? How do i report to IRS?

Not A Product Question

VolvoGirl

Level 15

Did you get the K-1 or a W2 from it?

jacks2Author

Level 2

I did get k-1 schedule and filed my personal taxes. My mortgage lender is ask for 1120s all schedules for underwriting for mortgage application. Thank you.

Mike9241

Level 15

a little confusing since there are no General Partners in an S-corporation.

see this link

https://www.taxlawforchb.com/2018/03/the-closely-held-business-the-minority-owner-accessing-information-from-the-entitys-tax-return/

you are entitled to a copy of the return - submit a written request to the officer and CPA

inform them that failure to provide a copy return upon written request is a violation of code section 6103(e)(1)(D)(iv) - you only have to be a shareholder during the year any - and you will report the failure to IRS

if they still refuse you can file form 4506 to get a copy from the IRS

sometimes the IRS misinterprets the code and will deny your request. then you may need the help of a tax pro or lawyer.

jacks2Author

Level 2

@Mike9241 Yes it is an S-Corporation and has partnership more than 25%. Will the Officer of S-Corp denies 1120s?

Thank You.

Mike9241

Level 15

are you saying that this was a partnership that elected S-corp taxation?

if they argue its a partnership/LLC

then 6103(e)(1)(C) would apply

(C)in the case of the return of a partnership, any person who was a member of such partnership during any part of the period covered by the return;

did you read my previous thread?

you can write the CPA you are willing to reimburse for the cost of a copy of the return. (it should be reasonable). use a method where you can prove delivery. if you still get a "NO" or no reply you'll need to see a lawyer and/or file form 4506 with the IRS. the lawyer could advise you about writing a letter of complaint to whatever state agency governs professional registration, a letter to the state's CPA society. even a letter to the IRS about the code violation (don't do this without the lawyer's advice - you may wreck the business and lose whatever you invested)

all this will take time and of course the expense of a lawyer., if you need one. I would say write the letter and file form 4506.

the 4506 can take 75 days

https://www.irs.gov/pub/irs-pdf/f4506.pdf

while you are entitled to a copy of the return, the real issue is the mortgage lender. there's really no way for them to know that what you would give them is actually what was filed or if it is that it wasn't subsequently amended with substantial changes. of course, submitting false documentation for a loan is probably criminal.