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Any update on the treatment of repay excess advance payments of the 2019 Excess Premium Tax Credit.
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I have posted the story.
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I am working on preparing a Business Tax Return (form 1120) for a client. The past 2yrs returns will reflect $0 income but a negative expenses of unpaid salarie...
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No. I understood what it meant. I wanted to know the tax implication of recording the transactions without any business income in a client's tax return if any?
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Other operational expenses of up to $20K and also including rental loss of $25K. No income reported during this period.
