Vincent B. asked

💰  Tax

If a Sub-S corporation voluntarily dissolves (not through bankruptcy), will any unpaid portion of an expense included on previous year's tax return under accrual accounting need to be taken back into income for the current year? Are there any exceptions?

November 19th, 2024

Ryan L. answered

Yes, any unpaid accruals from previous years need to be taken back into income in the current year u...

November 19th, 2024

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