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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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‎April 7, 2020
5:31 PM