NGR
Level 2
01-30-2024
10:22 PM
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Hi,
I have a client, who files an 1120S. I was told in 2014 there was a theft of $100,000. The client is asking if form 4864 can be filed even though this occurred 9 years ago. No losses were claimed in 2014-2022. Is there a statute of limitations on this? High audit risk?
Thanks,
Nick
qbteachmt
Level 15
01-31-2024
12:26 PM
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Someone stole cash? Insolvent bank? Ponzi scheme? Why the delay; was there a potential recovery that has proven impossible?
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NGR
Level 2
01-31-2024
12:29 PM
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Hi
thanks for the reply. It was theft of cash and violation of a non compete. This occurred before I accepted the client. Client stated he forgot he could file. Legal action was not pursued beyond a police report which I have for my records.
Thanks
