sjrcpa
Level 15
05-14-2020
07:35 PM
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They will issue a CP200. If you don't want to amend, you can explain the circumstance when you respond to the letter.
And why didn't your client notice the incorrect 1099s before?
@qbteachmtSince an 1120 is not a flow through tax entity, theoretically the 1120 and owner's 1040 have no bearing on each other.
The more I know the more I don’t know.