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RD, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 8784
Experience:  CPA, MBA, Over 10 yrs of experience in tax planning and business consulting..
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I have had a corpration for about 10 years. Due to illness

Resolved Question:

I have had a corpration for about 10 years. Due to illness I was never able to use the corporation. I realize that I have to get my papers in order. Can you suggest what I should do. Thank you.
Submitted: 7 years ago.
Category: Tax
Expert:  RD replied 7 years ago.
Have you filed the tax return for the Corporation for all these years? Is this a S Corp?
Customer: replied 7 years ago.
This is an S corporation and we never filed any returns or did anything with the corporation.
Customer: replied 7 years ago.
what else do you want to know
Customer: replied 7 years ago.
I don't understand why this is taking so long to answer. I am sincerely XXXXX XXXXX this is not a scam website.
Expert:  RD replied 7 years ago.
Sorry I was busy on another appointment.

In your case- you need to file the tax returns for the S Corp even if there was no activity for all the years that you have not filed.
There will be no tax liability but this will comply with the rules.

Btw- Did you register this Corp in NY and did you also apply for S Election in NY?
Customer: replied 7 years ago.
yes, this corp was registered in ny and became an S corporation in NY
Expert:  RD replied 7 years ago.
You will be required to file the S Corp tax returns in NY State too.

Let me know if you have any question.

Please note: This advice is provided with the understanding that all the relevant facts have been provided by you. Any change in facts might affect the advice given and hence may not be relied on in such cases. Nothing contained in this reply was intended or written to be used, can be used by any taxpayer, or may be relied upon or used by any taxpayer for the purposes of avoiding penalties that may be imposed on the taxpayer under the Internal Revenue Code of 1986, as amended.

RD and 2 other Tax Specialists are ready to help you
Customer: replied 7 years ago.
Thank you for your reply.
Expert:  RD replied 7 years ago.
Thanks for using the service and I apologize for the delay in replying.