JBenciv
Level 2
12-20-2022
09:49 AM
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You still have 11 days to get it right. You need to get a payroll processer and give him a paycheck pronto, for whatever would be considered reasonable compensation for his services, and get said pay on a 2022 W-2 form. Otherwise, you are risking a visit from the tax man and a reclass of distributions to salary and the accompanying payroll taxes, interest and penalties that come with it.