My s-corp only made $3,200 in 2020. Do I even need to file taxes? Thanks.
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Yes, you have to file an 1120-S as long as the election remains in effect.
See https://www.irs.gov/instructions/i1120s#idm140355079064496
Yes, you have to file an 1120-S as long as the election remains in effect.
See https://www.irs.gov/instructions/i1120s#idm140355079064496
Thanks for the info!
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