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Dr. Fiona Chen
Dr. Fiona Chen, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 437
Experience:  Former IRS Revenue Agent
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My co-founder incorporated us as a Delaware S-Corp in

Customer Question

My co-founder incorporated us as a Delaware S-Corp in February last year. He is the only one listed on the filing for all the officer roles.And since then ..1. we have not done any duties the IRS requires of us , like proper book keeping, filing quarterly employers federal tax returns.2. We made very little money like $3000 or so. Spent about a $100,000 in expenses.3. All the people we employed were hired as 1099 contractors.4. We've had 6 investors in the company , who we have not issued any tax documents on time.Each invested an amount of $20,0004. A guy we hired to file an extension for us back in April, filed it as a C-Corp (While we are an S-corp).5. We have not paid the $800 we owe toWhat is my course of action here , now that Oct 15 is fast approaching? How can i fix this mess?
Submitted: 5 months ago.
Category: Tax
Expert:  Dr. Fiona Chen replied 5 months ago.

Hello! My name is***** to JustAnswer. I'm reviewing your question now, and will post back with your reply momentarily.

Customer: replied 5 months ago.
5. We have not paid the $800 we owe to california as an out of state corporation.
Expert:  Dr. Fiona Chen replied 5 months ago.

Dear Customer,

The corporate income tax return filing with extension deadline was September 15.

It is suggested that you find a professional to help you. A large HR Block will do, too.

Please feel free to follow up.

Regards,

Fiona

Fiona Chen, MPA, Ph.D., CPA, ABV, CFF, CITP

Customer: replied 5 months ago.
We are soo screwed are'nt we?
Expert:  Dr. Fiona Chen replied 5 months ago.

Dear Customer,

It seems that you have business sense and know about what should have been done. You specialize in your own business operation. You may want to consider to let an accounting and tax professional help your business operations with his/her specialties.

Regards,

Fiona