Dissolution of S-Corp

I was recently questioned on the liability of an S Corporation’s owners for taxes owed for a company that was dissolved.  Fortunately, there was a recent on-point IRS ruling addressing the issue.  The ruling held that the corporation’s S status did not terminate even though the corporation was administratively dissolved by the state of incorporation.  For more information, see http://www.mondaq.com/unitedstates/x/198708/Corporate+Tax/IRS+Rules+That+S+Corporation+Not+Terminated+By+State+Administrative+Dissolution

 

 

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