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C-corp Balance sheet


Max W

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On 12/21/2023 at 2:53 AM, Sage said:

client recently found out business return (1120) has not been filed since 2012 for serval years.

How did he find this out?

 

5 hours ago, Sage said:

picture of handwritten P&L showing loss

I suppose he could file using those as his representations.

Still lots of unanswered questions. 

How long has the business been closed.

Was this a Sub S?

Does he know if any returns were ever filed?

Was he the sole shareholder?

Did he take a wage? Has be been filing his personal returns?

Did the Corp own any assets, and if so what happened to them?

5 hours ago, Sage said:

Would filing a POA for me to request transcripts wake up the sleeping dog.

Most likely not. 

If he really wants to know if any any assessment have been made try calling the PPS hotline.

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