S-Corp refunds for owners

Our company had a large profit last year so the two partners have a large tax bill to pay as well as large estimates during 2025. If we have a large loss in 2025, will the owners get refunds in 2026 due to their high tax bills in 2025 (for 2024 profits)?

Thanks

posted

Yes. Since the estimated taxes are based on the previous year's income, it is likely all or a portion of the estimated taxes would be refunded if there were significant losses sustained in the following year.

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