S-Corp distributes large share of profits each year. CFO allowed some shares to be bought after quarter, but allowed distributions for immediate preceding quarter. When shares were sold in early part of year, CFO distributed only based on income up to that quarter. Additional distributions were made in greater percentage of income in later quarters. Those who sold shares, did not received anything so weighted distributions were not done. Tax returns paid for partners for state returns were deducted from return and given to shareholders as tax credits for their personal taxes. Tax paid for them were not classified as distributions. So larger shareholders given credits, smaller ones nothing. CFO knows this is bad, refuses to correct, as refuses to amend returns for IRS penalties deducted in error on previous returns. Company's shareholder agreements, etc. are based on C-Corp, there is no provision for rights for equal distributions. The figures we are talking about are substantial in dollar terms. Has the Company terminated S-Corp election? I would mention that this is many years old in the way things have been done. Board members got back dated stock purchase dates to get distributions.