Question
S-Corp penalties for not filing for multiple years
I have a New client that has an S-Corp that has not been profitable. He started it in 2019 and then Covid and he never paid attention to it until recently. We recently filed 7 years of returns, and he has been hit with multiple penalties.. Upwards of $7K.. Has anyone had any experience with requesting for a reduced amount? is there any forgiveness I’m missing?
