Business & farm

Also keep in mind that your 2018 S corp return is late; assuming a calendar year end.

 

And if the above assumption is correct, you have accumulated late filing penalties.

 

S corporations that fail to timely file their Form 1120S or fail to show required information on the return are liable for a penalty of $200 per shareholder per month or fraction of a month the return or required information is not filed up to a maximum of 12 months.  

 

As a result, I would make sure that this return is filed ASAP.

*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.