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FTA for S-Corp w/FTF and payroll penalties

Technical topics regarding tax preparation.
#1
Posts:
693
Joined:
22-Apr-2014 9:07am
Location:
Chicago, IL
Does the FTA apply to the 1120-S FTF penalty and 941 & 940 penalties separately?

For example, would a penalty on a 2017 940 affect the ability to apply the FTA for 2018 1120-S FTF? Or are each tax returns considered on their own?
 

#2
Posts:
3145
Joined:
22-Apr-2014 3:06pm
Location:
WA State
Yes
Pick which one provides the most relief and use it there.
~Captcook
 


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