Business & farm

Failure to pay a reasonable salary to the owner/employee of the S-corp is the number one audit hotspot for an 1120-S ... so how can you ask for a PPP loan to cover  employee pay if you have no employees ?  Sounds like you are trying to get something for doing it wrong ... if you are the only person employed by the company then the IRS expects you to file payroll tax reports. Seek local professional guidance to get this set up correctly if you do not take a paycheck at this time. 

 

https://www.irs.gov/businesses/small-businesses-self-employed/s-corporation-employees-shareholders-a...