In the article, the Statute for filing for refund claims is deemed 4/15 of the following year for timely filed and paid 941s. But what about not timely filed 941s, what would be the statute for those claims? Appreciate any direction that can be provided.

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Hi Tom, I have a question on capital gains due to excess contributions to SCorp shareholder and whether they are subject to net investment tax?

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Good afternoon Tom. I have two LLC's that the prior accountant checked the "Final Return" box on the front of Form 1065, however, they we checked in error as the entities are still in business. Is there a way to "resurrect" them? Thank you!

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Good afternoon Tom.

My question is not related to ERC. I have a situation I hope you can shed some light & provide me guidance.

I have an LLC taxed as a limited partnership, in business since 2008. LLC houses 2 commercial rental properties, 3 equal limited partners. Timely returns filed since day one. Never an issue of any kind.

Few weeks ago, LLC recieved a $30,000 plus check from the IRS. Addressed to the LLC Name (line 1) and LLC member representative's name on line 2 ( LLCNames are all correct & no typos).

The reference line contians "Name of LLC, 12/2020 F-1065 REF 06" also "$1,700.83 INT 099 DAYS"

Watermarks on check & signed by Vona S. Robinson. Pretty sure check is not a fake.

LLC never paid a dime to the IRS of course. So wondering how IRS would issue a "refund" check to a 1065 recipient.

Client is worried about mailing ck back to IRS, fearful that check would get lost in space & be held responsible later.

Would you recommend the LLC hold the refund check in trust for IRS, deposit check into an interest bearing account and not touch it until / if they hear back from IRS. Check is void afer one year.

Thank you so much.

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