Delinquent Corporation Returns, Ways To Resolve Them By Joe Mastriano

I’ve helped many companies file their delinquent corporation returns. Sometimes they didn’t even have to pay the tax liability!

Delinquent Corporation Returns Form 1120 & 1120s For Your Business
If you have delinquent corporation returns to file, you are probably unaware of the various elections made on business returns that affect you. If you want to see what I can do for you please call Sherry at 713-774-4467 or email with your questions!

Corporate Tax Return – Case

I had a client who owed a lot of taxes. The IRS revenue officer was treating his company as a sole proprietor since he didn’t open a corporate bank account. This taxpayer formed a valid corporation and didn’t file any documents to the contrary. I quickly obtained a corporate ID #, filed all delinquent payroll returns and the delinquent corporate return under the corporate ID #. Mailed the returns to the IRS processing center, who accepted them. Since the corporation didn’t have any assets, we liquidated the corporation. The only tax liability to my client was the trust fund (withholding and FICA) taken from the employees. He saved a lot of money by not paying the matching portion of the FICA, the income tax on the profits, and any of the interest and penalties that accrued.

Unfiled Corporate Tax Return – Benefits

The case above represents the type of benefit you get with quality experienced representation. It sure beats just hiring someone to prepare the delinquent corporation returns. Most CPA’s can prepare tax returns.

Form 1120, 1120s Corporate Return Filing Deadline
File by the 15th day of the 3rd month following the close of the tax year.
Form 1120, 1120s Corporate Extension To File
File form 7004 to get an additional 6 months for your business extension.