
Anonymous
Not applicable
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Business & farm
only under rare circumstances does an S corp pay federal income taxes
the most common is when there is
Excess net passive income or LIFO recapture tax
barring those, the S corp should not have paid estimated taxes - that's why you're getting it all back. the bad news is that unless you paid you own estimated taxes or had withholding be preppared to owe. on top of which you would have underpayment penalties.
‎April 14, 2020
5:54 PM
2,382 Views