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If I failed to file tax returns for a tax year for an S corporation

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that did not have nay...
If I failed to file tax returns for a tax year for an S corporation that did not have nay activity (income or expense) and was not notified until 2 years after the fact, do I have any recourse in terms of negotiating the penatly amount?
Submitted: 6 years ago.Category: Tax
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8/3/2011
Tax Professional: Tax.appeal.168, Tax Accountant replied 6 years ago
Tax.appeal.168
Tax.appeal.168, Tax Accountant
Category: Tax
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Hello, welcome, and thank you for choosing Just Answer.

 

Even though a corporation does not have activity (income or expenses), until you officially dissolve a corporation, you are still required to file a tax return. Lack of knowledge is not an acceptable excuse with the IRS.

Tax.appeal.168
Tax.appeal.168, Tax Accountant
Category: Tax
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Customer reply replied 6 years ago
SInce I was not notified until 2 years after the fiscal year, is there room for negotiation? If I would have been notified by the IRS that the reurn was late I would have filed and instead of two fiascal years of penalties I would have only 1?
Tax Professional: Tax.appeal.168, Tax Accountant replied 6 years ago

It is typical for the IRS to contact a taxpayer 2-3 years later. That just seems to be the way they operate. If you can show reasonable cause for not filing, you may be able to negotiate or have the fees/penalties waived, (that would not include simply not knowing). Unfortunately, if you cannot show reasonable cause, more than likely, you will not be able to negotiate the fees/penalties.

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Tax Professional: Jax Tax, Tax Attorney replied 6 years ago
Jax Tax
Jax Tax, Tax Attorney
Category: Tax
Satisfied Customers: 1,408
Experience: JD, LL.M in Business and Taxation, IRS Enrolled Agent. Expert in Business and Tax Transactions
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You can request the abatement of penalties using form 843 but the balance does not matter at all. Throw the letter away. Once a corporation is closed, the IRS cannot collect penalties. There are only a few taxes they can asset against the owners and this is not one. The only option is to collect it against the corporation which as you state is closed. You don't need to do anything.
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