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Business & farm
If you put the business income on the Sch C with the personal tax return instead of filing the form 1120-S for the corporation then you have made a BIG mistake and you should RUN to a local tax pro to get this fixed ASAP since the penalties on the failure to file the 1120-S by 3/15 are piling up fast. And if you have not been taking a wage and filing quarterly/annual payroll tax reports then you need to be educated on what you must do as a corporation.
‎July 8, 2020
6:29 PM