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Business & farm
The S-corp won't get back its share of Social Security and Medicare taxes. There would be other payroll taxes in addition to Social Security and Medicare. The IRS could use other code provisions to upset your plans. Truthfully, we don't know what the IRS would do. In part that may depend on the auditor, if there ever is one. I would strongly suggest you discuss your plans with a paid professional.
‎January 10, 2025
11:26 PM