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Hi from just answer. I'm PDtax. I'll assist.
There are a couple ways to fix this. You could file the 941/944 and 940 and pay. State taxes too.
I might suggest something to save some $$. Perhaps the wage should be decreased, which saves on the payroll taxes, interest and penalties. Depending on your history, you might be able to support a wage of $12,000, let's say. The payroll tax cost would be cut in half. And you could support the change due to the business losing money, and bring less able to pay his wage.
Thanks for asking at just answer. Positive feedback is appreciated. I'm PDtax.
For the business.
It depends on what you decide to do.
If the corp will full pay the payroll taxes, your personal returns can be filled with the w-2 and s loss you report.
If you decide to amend, hold of on filing personally until the amendments are filed.
Please rate my assistance when your questions are answered. I'm PDtax.
Then how do you report his compensation of 27,000?
I think we got off the track of your original question. This started as a w-2 and s corp question.
I'll be glad to help, but I think I need to offer consulting time via our premium service.
Accept, and I can help with both issues.