s corporation and form 8995

[Moose557]

my wife and I moved and changed jobs in 2018.  I completed and filed our taxes, but when I went and looked I notice that a form 8995 was on our tax return for my wife's old job that she left in October 2018. income or loss is listed as $0 but the company is still listed.  also in part 2 income or loss from partnerships or S corporations of our return the company is also listed but again no income or losses are reported as I did not enter anything.  it must of copied from last year and I missed it.  

any suggestions on what to do in this situation?  does the fact that no income or loss is reported mean we are all set or how do I go about removing that job after we have filed taxes? our return is still pending.  total mistake.  thanks in advance for the responses. 

[DavidD66]

You don't need to do anything.  If you e-filed your return, the blank form would not have been transmitted, and even if it was it would have no impact on your tax return, or you tax.  

[Moose557]

thank you so much for the response.   just to double check it isnt blank it just has $0 in every spot.  still the same process?  Let it go?  agian, thank you so much. 

[MB_3413]

Any updates on this? Almost exact same situation here, return has been flagged for review 🙄

[CassLO]

@MB_3413 At this point, you will have to wait on the IRS. If they need any additional information, they will send you a letter in the mail which will give you instructions of any further information they need or if they need you to Amend your tax return.

Please see the information below regarding your tax return being under review:

Why is my return being reviewed?

While most returns are accepted as filed, some are selected for examination. The IRS examines some federal tax returns to determine if income, expenses, and credits are being reported accurately. The IRS selects returns for examination using various methods which include random sampling, computerized screening, and comparison of information received by the IRS such as Forms W-2 and 1099. Having your return selected for examination does not suggest that you made an error or were dishonest.

See the article below, for information:

 IRS understanding your CP05 notice