Corp is S, not C...file manually for refund?

Technical topics regarding tax preparation.
#1
JR1  
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Client re-activated a long dormant corp, believing it was a C corp. IRS REJECTED! lol, not in the efiling, which was accepted, but in a later letter reminding taxpayer that it elected S status back in 1985!

They paid C corp tax to Fed and IL....now I'm wondering...how do we get those back? Filing an 1120X seems improper...and of course, I'd love to just efile and hope the refunds would come, but I'll bet all your money that wouldn't happen.

File manually with the IRS letter and request refund?

What you think?
Jeff
Go Blackhawks! Go Pack Go!
Remembering our son, Ben Jan 22, 1992 to Aug 26, 2011.
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#2
JR1  
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I'm thinking that I should efile the new 1120S and then manually file 1120X from original to 0 to seek the refund....make sense anyone?
Go Blackhawks! Go Pack Go!
Remembering our son, Ben Jan 22, 1992 to Aug 26, 2011.
For FB'ers: https://www.facebook.com/groups/BenRoberts/
 

#3
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WA State
I wouldn't file an 1120...amended or otherwise. There is no "bucket" at the IRS for an 1120 to be recorded. So, it would likely be a nothing.
Line 23a of the 1120S shows estimated payments. This is how BIG would be paid. List them there and ask for the amount to be refunded on Line 27.
~Captcook
 


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