topic Is it correct that with positive earnings reported on our 1120S, that according to Turbo Tax, IRS will refund taxes paid on our 1120S? in Business & farm

Is it correct that with positive earnings reported on our 1120S, that according to Turbo Tax, IRS will refund taxes paid on our 1120S?

levi5081 — Sat, 01 Jun 2019 17:53:14 GMT

You are correct. Our gross income was less than $99,500.

levi5081 — Sat, 01 Jun 2019 17:53:15 GMT

You are correct. Our gross income was less than $99,500.

S-corporations rarely pay income tax because the income i...

TaxGuyBill — Sat, 01 Jun 2019 17:53:16 GMT

S-corporations rarely pay income tax because the income is passed on to your personal tax return. Why do you think the S-corporation would owe income tax?

Re: S-corporations rarely pay income tax because the income i...

levi5081 — Mon, 17 Jun 2019 17:08:05 GMT

thank you for your response.

we filed a business 1120s and a 1040

i had to mail the check for $6057 with the 1040

the 1120s said refund $6057

is that right?

i do not understand this stuff at all

kim