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Old 04-09-2013, 09:35 AM
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2013 New S-Corp. What corporate forms must I file right now?

I started a Corporation at the end of Jan '13 (date stamp on Articles says 1/29/13). I recv'd my Articles/Inc on 3/14. I'm the only share holder and the only employee. I paid myself payroll in Q1. ADP handled my payroll; including paying my payroll taxes and filing my quarterly payroll tax form 941.

I filed nothing on 3/15 as I did not know at that time if I was a corporation or still operating as a Sole Prop for this calendar year. Now I know....

I do realize that at some point I will need to do a 1120S, K-1 and 940 at YEnd. Unfortunately, I am running out of time AND help is generally unavailable due to tax season, etc. I will be looking in May for a good CPA to help me.


What are my next steps? What forms must I file now and in the next few months to avoid penalties?



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Old 04-09-2013, 02:22 PM
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Join Date: Oct 2010
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“What are my next steps? What forms must I file now and in the next few months to avoid penalties?”============= you do not even have to be incorporated to be recognized as an S-Corp. What you do need to do is have your status accepted by the IRS. Your S corp tax return is generally due three and a half months after the close of the company's tax year 2013.As long as the election is filed before Mar 15, it normally ‘d be effective to Jan 1 2013.So you need to fiel 1120S (by Mar 15 th 2014 due three and a half months after the close of the company's tax year 2013). Since S corp profits and losses pass through to you individually, state generally requires that your state S corp income tax return is submitted according to regular calendar year due dates. The regular due date for calendar year filers is April 15; however, be sure to contact your Department of Revenue to verify the due date of your state S corp tax return, as all state taxation rules are created and enforced independently.



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