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Rakhi Vasavada
Rakhi Vasavada, Financial and Legal Consultant
Category: Finance
Satisfied Customers: 2608
Experience:  Graduated in law with Emphasis on Finance and have have been working in financial sector for over 12 Years
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I have a s corporation. in 2003 year there was a fraud in a

Customer Question

I have a s corporation. in 2003 year there was a fraud in a company. Somehow afterwords, I could not pay attention to my day to day business. Now after hiring another accountant, I found that I have total back penalty (fully paid) in the range of $30000.
I can justify financial hardship plus a genuine bank fraud by insider.
Note: Please answer if you have dealt with such a situation. I am not looking for generic answer.I myself dealt with IRS and got abatement of penalty upto 20000 All above penalty are for 941 late deposit/.late filing etc.
Submitted: 1 year ago.
Category: Finance
Expert:  PDtax replied 1 year ago.

Hi from Just Answer. I'm PDtax. I can assist, but the additional information needed, time involved and analysis suggests that a price increase is needed.

I'll post an Offer for the additional time. Accept, and I can start this afternoon.

Customer: replied 1 year ago.
I can spend this money. Before I move forward, I would like to know that did you worked previously for this kind of situation?
And if you did , what may be the possible outcome.
corporation is an S corp. All penalty are 941, 940 late filing late payment. Tax returns has an average 6000 $ profits, Owner is only one person. And income of president is less than 50000.
Receipt of corp is 250k to 300K.
Expert:  PDtax replied 1 year ago.

I have worked in this situation before. Possible outcomes might be abatement, settlement, charge to another responsible party, or management.

Your answers to a few questions will dictate what i suggest as best lowest cost resolution.

Customer: replied 1 year ago.
Can you pls provide me a list of document to upload?
Also What is the best confidential way to upload tax returns and other confidential documents to you.?
Expert:  PDtax replied 1 year ago.

Once you accept the Offer, a private link opens up. I will provide my office email for a document link. If needed, we can discuss things over the phone, if we start before 5.

Customer: replied 1 year ago.
I will wait for couple of days. Thank you
Expert:  PDtax replied 1 year ago.