Late last year (2019) I formed a new Delaware company and was given S-Corporation status. I am the only shareholder. However I only started operating the business early in 2020.
I didn't file a Form 1120S this year (for 2019) and have now realized that I should have filed this form even though there was no business activity to report. However I have a few questions:
1) Given that there was no income or other business activity, my K-1 also shows no income. Do I also need to file an amended 2019 personal tax return to include this K-1?
2) Are there any tips to avoid paying late fees for filing a late Form 1120S with no income?
