Is it correct that with positive earnings reported on our 1120S, that according to Turbo Tax, IRS will refund taxes paid on our 1120S?

[levi5081]

You are correct. Our gross income was less than $99,500.

[TaxGuyBill]

S-corporations rarely pay income tax because the income is passed on to your personal tax return.  Why do you think the S-corporation would owe income tax?

[levi5081]

hi

thank you for your response.

we filed a business 1120s and a 1040

i had to mail the check for $6057 with the 1040

the 1120s said refund $6057

is that right?

i do not understand this stuff at all

kim