How bad is the error?

How bad is the error?
by EricCartman (2024-04-18 14:30:24)

In reply to: Any board accountants have a moment? posted by OTTER

I'd check with the CPA about the best way to address the issue and have them review the filing. They will probably fix the filing and refile it. I'm sure that there will be some level of penalties and interest involved.

My guess is that being proactive about the issue is better than ignoring it and hoping that you don't get audited.

Replies:

the IRS is incredibly reasonable and understanding - thesixthgreatlake 2024-04-18 22:04:16
- Not exactly the words I would use, but whatever - jt 2024-04-19 11:10:00