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Discuss Eva Norris, enrolled agent's answer to: IF A SUB s CORPORATION has been out of business ...

iF A SUB s CORPORATION has been out of business (business is closed) can the IRS come after the officer for penalties regarding filing an 1120 S late?

Eva Norris, enrolled agent
Eva Norris, enrolled agent Answered:

Yes, as the "responsible party" they can.  Try to explain why it was late if there were extenuating circumstances and they may abate the penalty but if you've filed late before they probably won't.

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