Tax

Have a tax question? Ask a tax Expert

Ask an Expert,
Get an Answer ASAP!

This answer was rated:

Do I have to fiule a corporate tax return, even if we are a…

Do I have to...

Do I have to fiule a corporate tax return, even if we are a "loss" corporation?

Accountant's Assistant: The Accountant will know how to help. Please tell me more, so we can help you best.

We have been a loss corporation since inception three years ago. Do we have a federal filing requirement?

Show More
Show Less
Ask Your Own Tax Question
Answered in 10 minutes by:
3/21/2018
Tax.appeal.168
Tax.appeal.168, Tax Accountant
Category: Tax
Satisfied Customers: 4,759
Experience: 3+ decades of varied tax industry exp. Tax Biz owner
Verified

Hello. Thank you for choosing this Q&A service for assistance. My name is***** will be assisting you. I am prepping my response, which I will provide to you in the next thread(s).

--------------------------------

Note that telephone calls and other solicitations are automatically generated by the site, not the experts. If you are not interested in an offer, simply decline.

Still typing...

Ask Your Own Tax Question

If you have not officially dissolved the corporation, you are required to file a tax return, even if you have no income to report or you are operating at a loss. If you have not been filing, you will likely be looking at some penalties for failure to file as well. Is your business an S or a C Corporation?

---------------------------------

In closing, my goal is to provide you with the best experience possible! Hopefully, the service that I have provided has earned a 5-star rating! Please remember to rate my service by selecting the 5 stars at the top of the screen before you leave today. Thank you in advance. If you require further assistance, use the reply box and let me know.

Tax.appeal.168
Tax.appeal.168, Tax Accountant
Category: Tax
Satisfied Customers: 4,759
Experience: 3+ decades of varied tax industry exp. Tax Biz owner
Verified
Tax.appeal.168 and 87 other Tax Specialists are ready to help you
Ask your own question now
Customer reply replied 4 months ago
We are a C Corporation. We will have a loss each year. I will file the federal tax returns. The penalties are calculated based on tax liability. We have no tax liability. Does this help?
Customer reply replied 4 months ago
No

Thank you for the 5 star rating. I do appreciate it.

Even though you will have a loss each year as long as you are an active corporation you will need to file a tax return. You are correct regarding the penalties.

Ask Your Own Tax Question
Was this answer helpful?

How JustAnswer works

step-image
Describe your issueThe assistant will guide you
step-image
Chat 1:1 with a tax professionalLicensed Experts are available 24/7
step-image
100% satisfaction guaranteeGet all the answers you need
Ask Tax.appeal.168 Your Own Question
Tax.appeal.168
Tax.appeal.168
Tax.appeal.168, Tax Accountant
Category: Tax
Satisfied Customers: 4,759
4,759 Satisfied Customers
Experience: 3+ decades of varied tax industry exp. Tax Biz owner

Tax.appeal.168 is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response...

T.G.WMatteson, IL

I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight.

BonnieChesnee, SC

Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation.

JohnMinneapolis, MN

Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with.

OrvilleHesperia, California

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!

AlexLos Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.

GPHesperia, CA

< Previous | Next >

Meet the Experts:

Wallstreet Esq.

Wallstreet Esq.

Tax Attorney

586 satisfied customers

10 years experience

Mark D

Mark D

Enrolled Agent

1,338 satisfied customers

MBA, EA, Specializing in Business and Individual Tax Returns and Issues

Richard

Richard

Tax Attorney

4,512 satisfied customers

29 years of experience as a tax, real estate, and business attorney.

PhillipsEsq.

PhillipsEsq.

Attorney-at-Law

59 satisfied customers

B.A., M.B.A, J.D.

Robin D.

Robin D.

Senior Tax Advisor 4

15,569 satisfied customers

15years with H & R Block. Divisional leader, Instructor

Megan C

Megan C

Certified Public Accountant (CPA)

8,655 satisfied customers

Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level

jgordosea

jgordosea

Enrolled Agent

2,885 satisfied customers

I've prepared all types of taxes since 1987.

< Previous | Next >

Related Tax Questions
I have a US reg company and have just finalised my annual
I have a US reg company and have just finalised my annual taxes however I have not filed yet and have now missed the April 15 deadline.Fact is the company is new and I have no earnings just expenses -… read more
Bryan M.
Bryan M.
Owner
Masters of Accountancy
159 satisfied customers
I am newly elected secretary for my tax exempt organization.
I am newly elected secretary for my tax exempt organization. What reports to the State are required and how often? … read more
NPVAdvisor
NPVAdvisor
CFP Licensee and Practitioner
Master's Degree
180 satisfied customers
Formed a llc Partnership 12/15 ( kansas). money deposited
Formed a llc Partnership 12/15 ( kansas) . money deposited 12/09/15 did not conduct any business untill 1/1/16. What form do the investors file showing their investment in 2015.… read more
NPVAdvisor
NPVAdvisor
CFP Licensee and Practitioner
Master's Degree
180 satisfied customers
I have a holding LLC which just holds my US residence. This
Hello I have a holding LLC which just holds my US residence. This structure was advised to manage liability exposure. An accountant has been preparing annual returns at some expense even though the bu… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
I need to file an 1120 form C -corporation. There is no 2015
I need to file an 1120 form for a C -corporation. There is no 2015 1120 form. I started three months ago, I have not made any income on my service business yet. How do I file the income tax for my C-i… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
Hi, we have a Delaware Corporation which we incorporated in
Hi, we have a Delaware Corporation which we incorporated in February 2009. We operate and are registered as a foreign corporation in California. Since inception and up to this year we've accumulated a… read more
PDtax
PDtax
Owner
Master\u0027s Degree
1 satisfied customers
Have an LLC in the produce business with three foreign partners
Have an LLC in the produce business with three foreign partners that was organized in 2012. Form 1065 has been filed for 2012 and 2013. We get letter from the IRS that advises the LLC that a From 8832… read more
Barbara
Barbara
Enrolled Agent, Paralegal
5,444 satisfied customers
I have an LLC w/ S-Corp Status in Maryland. It has been completely
I have an LLC w/ S-Corp Status in Maryland. It has been completely dormant since inception (2012) and there is 0 activity and no employees (I'm the sole owner). Other than 1120S, are there any other f… read more
PDtax
PDtax
Owner
Master\u0027s Degree
1 satisfied customers
Hi, I have an LLC in the State of Maryland. It has been
Hi, I have an LLC in the State of Maryland. It has been dormant since inception (April, 2012). We are back-filing for the past two years because I have S-Corp status and didn't realize that triggers f… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
Have S corp sold all stock 8/15/13. I am preparing books for
Have S corp sold all stock 8/15/13. I am preparing books for stockholders and have been since inception. I need clarification to make sure I am on the right track. I closing books as of closing and pr… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
I am an officer of a California C Corp and own 67% of the shares
I am an officer of a California C Corp and own 67% of the shares (company is private). I am compensated as a W-2 employee. I loaned money to the Corporation in my name personally (six figures). The co… read more
keeperumiami
keeperumiami
Sr Financial & Tax Consultant
Bachelor\u0027s Degree
1 satisfied customers
1. I formed C corporation in Nevada in Oct.,2007. Then I invested
1. I formed C corporation in Nevada in Oct.,2007. Then I invested all starting capital to Invest Bank's money fund. There had been no other corp business activity until April, 09. For this period, Ban… read more
fastfile
fastfile
Tax Advisor
Master's Degree
550 satisfied customers
A few years ago we formed a S-corporation company. We spent
A few years ago we formed a S-corporation company. We spent some money on Research and Development and could amortize $1,533 every year for five years. However, we would like to close what is now an i… read more
BK-CPA
BK-CPA
Bachelor's Degree
687 satisfied customers
I questions are related to both our business and personal taxes.
I questions are related to both our business and personal taxes. We have three business:1.A local publication business that we started in 2008 April as sole-proprietors and then encorporated it as S-c… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
Passive members of a LLC (investment group) with NO activity
Passive members of a LLC (investment group) with NO activity except initial investment have not filed a return since inception 3 years ago when investment was made. Do they need to file all past 3 yea… read more
Mark D
Mark D
Enrolled Agent
Master's Degree
1,338 satisfied customers
The background A doctor owns a one member llc and was audited
The background: A doctor owns a one member llc and was audited for medicare/medicaid. He is required to pay back all the monies received from the inception of this entity. He also owns a coporation at… read more
Ed Johnson
Ed Johnson
Senior HR Consultant and Business Devlpm
Bachelor's Degree
6,994 satisfied customers
We sold a UGMA account in June 2007 after being notified by ...
We sold a UGMA account in June 2007 after being notified by the investment company that our daughter had exceeded the allowable age for a UGMA in our state. Our intent was to reimburse ourselves for e… read more
Jon Andrews
Jon Andrews
CPA
2,926 satisfied customers
I cant remember if I filed a return for a past year.
I can't remember if I filed a return for a past year. How do I figure this out? I do my own taxes.… read more
Tammy F.
Tammy F.
Freelance Writer and Editor, Animal Resc
4,438 satisfied customers
Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Show MoreShow Less

Ask Your Question

x