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Megan C
Megan C, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 16580
Experience:  Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level
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I just e filed my 2012 federal and state ( Virginia) returns.

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I just e filed my 2012 federal and state ( Virginia) returns. Virginia billed me for failure to file a return for my former S corp for years 2007-1011. I was in a bad car accident and was unable to file those returns during that period. I have sent the State verification of this and a request to waive those penalties. I know this will be considered good cause. Virginia owes me a refund, personally for 2012. Will they send me that refund, or will they apply it toward the penalties they wish to impose on the S corp?

MyVirtualCPA :

Thanks for asking your question! I'm sorry to hear about your tax issue and I'm going to try my best to help you understand or resolve it.

MyVirtualCPA :

How are you today?

MyVirtualCPA :

Your personal taxes and your business taxes are two separate things.

Customer: Thank you! That's what I was hoping you would say.
MyVirtualCPA :

so, you will receive your personal tax refund - it will not be applied to your business taxes

Customer: Thanks so much. Have a great night .
Megan C and 2 other Tax Specialists are ready to help you
Thanks, Russell for your positive rating. Please come back and visit MyVirtualCPA for any of your tax, finance, or social security needs. It was a pleasure working with you today.