VictorW9
Expert Alumni

Business & farm

@ " Started S corp in 2016 that did not generate generate any income or expenses" 

It doesn't really matter whether the S corp generates any income or expenses, you have an obligation to file a tax return for the S corp every year.

There are penalties levied at each shareholder of an S corp that can run well into a thousand dollars each for failure to file an S corp return.

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