answersLogoWhite

0

If the corporation is filing using the incorrect form, the IRS will force them to use the correct form, as the company must disclose its form of business when applying for an EIN.

User Avatar

Wiki User

17y ago

What else can I help you with?

Related Questions

How does an S Corp pay taxes?

An S Corporation pays taxes by passing its income, deductions, and credits through to its shareholders, who report them on their individual tax returns. The corporation itself does not pay federal income tax, but it files an informational tax return to report its financial activity to the IRS.


What is a California corporation number and how is it obtained?

A California corporation number is a unique identification number assigned to a corporation by the California Secretary of State. It is obtained when a corporation files its articles of incorporation with the Secretary of State's office.


What is the difference between a c corp and a s corp?

C vs S is an election made by a corporation in regards to how it wants to be taxed. A C corporation files a tax return and pays tax based on corporate tax rates. An S corporation files a tax return; however, the profit or loss passes through to the owner or partners personal tax return and tax is paid at the personal rate. Obviously, only a private closely held corporation can elect S status. The state tax treatment for an S-corp may be different than the federal treatment. You could have a corporation which has elected S status for federal taxes and C status for state taxes. The subchapter-S election is merely a tax classification, not a legal entity formation difference.


When a company files as an LLC on a W9 form what would be the appropriate circumstance in which a corporation would be chosen as the tax classification?

If the corporation choses, under the "check the box" elections to be taxed as a corporation. Many do.


If a minor earns income does she have to report the income to the I R S?

Yes and if any federal income tax was withheld from the earned income the minor could possibly receive a refund of some of the withheld FIT amount IF the minor files a federal 1040 income tax return and it is completed and filled out correctly and signed by the minor.


What is the switch that is used to make sure that the COPY command copied files correctly?

/v


Can you be my own trustee or my corporation?

Another asker who can't control his pronouns. Why would I want to be trustee of your corporation or of you? Corporations do not have trustees. If the corporation files for bankruptcy protection, you cannot be the trustee. Similarly, you cannot be your corporation. A corporation is a separate legal entity. You may be the only officer and shareholder, which can cause you some tax and liability problems, but you are not the corporation.


How can EMC Corporation recover your data?

It depends on how long your data haws been lost, and how it was lost. EMC corporation can look to the codes inprinted in your softwar, and recover lost files and emails.


Can a CD containing ghost files be copied to another CD?

Yes, if you make an ISO image of the disc first. Copying manually may not copy the files correctly.


I have some files loaded from my PC not working on Mac have extension .INK?

The .INK file type is associated with 'Tablet PC' by Microsoft Corporation. There is nothing for Mac OS X that can use these files.


Why do your mp4 files not play from your usb stick?

Usually is mp4 files do not play correctly there is either something wrong with original file, the device it is saved on, or the system that is trying to read the file.


Computers store files in folders also called?

If i understand the question correctly, a folder is also called a directory.