I have a similar situation, new client comes to me to file her 1120S.... no extension or anything... No payroll to cover the reasonable compensation. (first year filing for her 1120S) two shareholders.

They received 1099 NEC in corp name for approx 48,000. 

Is there any fixing this? Or just take chances on it?  or as with previous question, file past due 941 fourth qtr and pay penalties..... or anyway compensation could be labeled as self employment income on the k-1 to be taxed as such? 

I have been playing around with the numbers and I am not getting anything to fall into place that would cover the shareholders behinds.... and of course I have already created/filed 2nd quarter payroll  reports for 2021.