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How can I correct an accepted tax return form 1120, when the correct form should have been 1120S?

wrightbs9518
Level 1

Client thought her business was setup as a C-Corp but is actually an S-Corp. I discovered this when she told me she wanted to close the business and I was trying to submit her final franchise tax report. She has not received a letter from the IRS.  

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1 Solution

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IRonMaN
Level 15

I'm confused.  If it was e-filed and accepted as an 1120 it is an 1120.  What am I missing?


Slava Ukraini!

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2 Comments 2
IRonMaN
Level 15

I'm confused.  If it was e-filed and accepted as an 1120 it is an 1120.  What am I missing?


Slava Ukraini!
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abctax55
Level 15

If the IRS accepted it as a C-corp, I think your client is mistaken.

Edit:

"final franchise tax report"  Sounds like a state issue.

"She has not received a letter from the IRS."    B I N G O.

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