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I checked my state's business registry the other day and noticed that my partner's s-corp has been delinquent since Jan. 2011. I assume he has not renewed the s-corp. and has not filed a return for this s-corp. during this time. My accountant has filed the tax return for our LLC accurately and on time, however I am concerned that the LLC and ultimately me personally could be held partly responsible for the taxes that have not been paid by my partner's s-corp. I have filed my K-1 with my personal return accurately and on time each year. I should also add that we do not have any operating agreement for our LLC. Should I be concerned that I could be held responsible for my partner's unpaid taxes?
I appreciate any help I can get on this issue.