Anonymous
Not applicable

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. 

 

 

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