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seek out the assistance of a tax professional. In this situation I would suggest a tax attorney each year starting with the year of formation a S-Corp return should have been filed. the IRS could impose penalties for failure to file.that could exceed $2,000 per year. (not sure how far back it can go) also, you didn't take a salary from the corp which is another tax issue that could result in more penalties. do not contact your accountant until you speak to an advisor
seek out the assistance of a tax professional. In this situation I would suggest a tax attorney each year starting with the year of formation a S-Corp return should have been filed. the IRS could impose penalties for failure to file.that could exceed $2,000 per year. (not sure how far back it can go) also, you didn't take a salary from the corp which is another tax issue that could result in more penalties. do not contact your accountant until you speak to an advisor
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