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About Jay Allen Finn, CPA
Expertise
IRS Audits. All Collection Tax problems; specifically but not limited to, delinquent returns, bank levies, liens, garnishments of wages, Also specializing in Offer in Compromise. Limited to 1040/ personal tax issues
Experience
27 years experience as a CPA in the IRS defense area following a position as an IRS Auditor in the oil and gas industries.
Organizations
Texas Society of Certified Public Accountants (Peer Assistance Committee), Houston Chapter of the Texas Society.
Publications
Submit your articles.com
Education/Credentials
BBA - Bachelors of Business Admin., Magna cum laude, Series 6 and 68 - Registered representative, Series 65 - Financial planner.
Certified Public Accountant
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You are here: Experts > Business > Corporate Law > Tax Law (Questions About Taxes) > DO i need to file Corporate Tax (no business yet)
Expert: Jay Allen Finn, CPA
Date: 9/7/2008
Subject: DO i need to file Corporate Tax (no business yet)
Question
Hello
I formed a corporation in NY in October 2007 and corporation has a FEIN as well. Due to other engagements i did not run the business since then. No bank accounts etc. etc. Let's say not a single activity related to the business.
I was wondering should i still file taxes for both federal and NY state. If not, is there any other liablity (forms etc.) that i have.
Thanks for your time and response.
John
Answer
What about start-up costs and capital stock?
Otherwise, you have no liability even with NY state. File for expedience sake with all zeros for income. Sign off to question about having too little assets and income and therefore no M-1, M-2 nor balance sheet is required! Othererwise you may get letters as to why you did not file...
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