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Old 02-06-2009, 07:55 PM
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I suggest that you really only have 2 choices. The first choice is to request your CPA to amend your prior year corporation tax return and report the correct amount of assets that were omitted.

The 2nd choice is for you to ignore the whole matter as the first course of action would be an expensive choice and involve a little effort on your part that may also trigger some action from NY State.

I think that you need to weigh out both options carefully with your CPA and ask for advise as to what you should do!
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