William B. asked
If my friend sells me his company today, which is an S-Corporation, by selling me his 100% shares/stock, can both of us file Business Tax Returns for the same company for 2016, each for the period of time we were the owner of the company? Specifically, can my friend file Corporation Tax Returns from January 1, 2016, until today, March 6, 2016, and I can file Corporation Tax Returns from March 6 until the end of the year? Is it possible to file two returns for the same corporation, for the same year, but different periods of the year?
August 21st, 2023
Julia M. answered
The federal EIN assigned to the S-corporation will remain with the same corporation and is not trans...
August 21st, 2023
Create an account to view answers and interact with the community!
I live in Florida and am moving to Hawaii. I have recently bought a home in Hawaii and have it rented out. Will this affect my taxes this year, and what do I need to report on my tax return?
February 7th, 2024
I made an indirect rollover by transferring funds from a standard IRA to my personal account and then immediately to another standard IRA. The 1099-R shows only the distribution, which is now part of my income. I have Form 5498 with the rollover contribution, but how does this reflect on my tax return?
June 21st, 2023
I have several 1099-DIVs that contain both ordinary and qualified dividends. Are the qualified dividends separate and distinct from the ordinary dividends, or are they a subgroup of the ordinary dividends? I ask because I have one 1099-DIV that shows both ordinary and qualified dividends with equal amounts (i.e., $1,041.13). This seems too much of a coincidence.
October 2nd, 2024
I need to file my 2009 tax return and see if I can get this matter settled with the IRS. Should I consult a CPA or tax attorney before I file? Do you know anything about the national companies that deal with the IRS in these matters?
November 16th, 2024
I applied for an extension for my 2014 taxes and realized last week that I never filed them. What should I do now?
August 8th, 2023
